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I own an S-Corporation and I'm the only employee. I also work full time for another company that pays FUTA on me. Does my S-Corporation have to file a Form 940 also?
Yes, your S-Corp will have to file Form 940 and pay FUTA taxes for you (the employee) even if some other company is already paying for you.
Let me know if you have any questions.
I thought FUTA was on the first $7,000 only. Because I have two jobs I have to pay on the first $14,000? Can I collect two unemployment checks if I lose both jobs?
It is paid by the employer on the first $7,000 of each employee's wages. Since you are working for two employer's (including your S Corp) each employer will have to pay on the first $7,000 paid to you as wages.
You cannot collect two unemployment checks but your compensation will be calculated based on your total earnings from the two jobs.