The FUTA rate will decrease from 0.8% to 0.6% effective July 1st, 2011. The Wage Limit will remain at $7,000. The IRS will be publishing a special Form 940 for 2011 to show the two rates. Bookmark http://www.irs.gov/formspubs/index.html to find the form at year-end.
To change the rate in Dynamics GP, go to ToolsàSetupàPayrollàUnemployment Tax.
In the Tax Code field, select FED.
In the Tax Rate field, type 0.6
Save and exit the window.