Form 940 Worksheet Summary

The last page of the Form 940 Worksheet displays quarter-to-date and year-to-date summary information.

Quarter- and Year-to-Date Data

The report displays the following summary data for the quarter to date and the year to date:

• Total payments for services of employees — All employee compensation, including 125/Cafeteria amounts.

  Enter the year-to-date amount on Part I, Line 1 of Form 940.

• Exempt payments — Calculated before excluding 125/Cafeteria amounts.

  Enter the year-to-date amount on Part I, Line 2 of Form 940.

• Payments for services of more than <wage base> — Calculated after excluding 125/Cafeteria amounts.

  Enter the year-to-date amount on Part I, Line 3 of Form 940.

• Total exempt wages

  Enter the year-to-date amount on Part I, Line 4 of Form 940.

• Total taxable wages — The net of the total payments less exclusions and the payments for services of more than <wage base>.

  Enter the year-to-date amount on Part I, Line 5 of Form 940.

• Gross FUTA tax (@%) — Calculated by applying the tax percentage to the total taxable wages.

  Enter the year-to-date amount on Part II, Line 1 of Form 940.