Asked by
Divya Relangi
on Nov 18, 2024Verified
Assuming that all wages are subject to federal and state unemployment taxes, the employer's payroll tax expense would be
A) $1,370
B) $750
C) $620
D) $2,870
Employer's Payroll Tax
Taxes that employers are required to pay on behalf of their employees, such as social security and Medicare taxes in the United States.
Unemployment Taxes
Taxes paid by employers to fund unemployment insurance programs, providing benefits to workers who have lost their jobs.
- Discern the duties of employers in relation to payroll taxes which include FICA, FUTA, and SUTA.
Verified Answer
KR
Learning Objectives
- Discern the duties of employers in relation to payroll taxes which include FICA, FUTA, and SUTA.