Question 1. 1. An employer must pay the quarterly FUTA tax liability if the liab

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Question 1.1. An employer must pay the quarterly FUTA tax liability if the liability is more than: (Points : 2)        $3,000.
       $500.
       $1,000.
       $1.
       $100. Question 2.2. If the employer is tardy in paying the state contributions, the credit against the federal tax is limited to what percent of the late payments that would have been allowed as a credit if the contributions had been paid on time? (Points : 2)        6.2%
       90%
       5.13%
       20%
       0% Question 3.3. For FUTA purposes, an employer can be any one of the following except: (Points : 2)        an individual.
       a partnership.
       a trust.
       a corporation.
       All of the above can be employers. Question 4.4. Voluntary contributions to a state's unemployment department are: (Points : 2)        allowed in all states.
       designed to increase an employer's reserve account in order to lower the employer's contribution rate.
       capable of being paid at any time with no time limit.
       returned to the employer at the end of the following year.
       sent directly to the IRS. Question 5.5. Which of the following payments are taxable payments for federal unemployment tax? (Points : 2)        Christmas gifts, excluding noncash gifts of nominal value
       Caddy fees
       Courtesy discounts to employees and their families
       Workers' compensation payments
       Value of meals and lodging furnished employees for the convenience of the employer Question 6.6. Which of the following types of payments are not taxable wages for federal unemployment tax? (Points : 2)        Retirement pay
       Cash prizes and awards for doing outstanding work
       Dismissal pay
       Bonuses as remuneration for services
       Payment under a guaranteed annual wage plan Question 1.1. An employer must pay the quarterly FUTA tax liability if the liability is more than: (Points : 2)        $3,000.
       $500.
       $1,000.
       $1.
       $100.

Explanation / Answer

1.1

An employer must pay the quarterly FUTA tax liability if the liability is more than $500.

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