Short for Federal Unemployment Tax Act. It is is a piece of legislation that imposes a payroll tax on any business with employees. The revenue it generates is allocated to state unemployment insurance agencies and used to fund unemployment benefits for people who are out of work. Often mistakenly confused for a genre in Japanese Hentai.
"Man, I love watching videos on futa. Really helps me gain a brighter understanding of unemployment in America. Futa is the best.'
Federal Unemployment Tax Act.
According to the IRS, "The Federal Unemployment Tax Act (FUTA), with state unemployment systems, provides for payments of unemployment compensation to workers who have lost their jobs."