FUTA Tax calculation not considering prior legal entity/PSU FUTA balances
We have multiple PSUs and when an employee moves from one PSU to another, FUTA tax limits are reset. For example, if the $7000 FUTA limit has been reached with the current legal entity A(PSU) and then a global transfer happens into legal entity B(PSU), FUTA gets calculated again and does not consider the prior amount paid ($7000 - Tax Limit). Since the FUTA limit of $7000 was reached earlier we do not want this to calculated again.
Also, we do not want to transfer balances to the new PSU/Legal entity as this impacts W2s and quarter/year end processing