Which parties is responsible for paying futa taxes

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Reference no: EM131074357

1. Which of the following parties is responsible for paying FUTA taxes?

A) Employee
B) Employer
C) Employee and Employer
D) FUTA is a voluntary withholding for the employee

2. Which of the following is a component of FUTA tax?

A) Percentage rate
B) Annual salary
C) Hourly wage
D) Hours worked

3. The amount of unemployment benefits paid to an employee is based on what?

A) A negotiated rate
B) A contracted rate
C) A percentage of future earnings
D) A percentage of the former pay

4. Which of the following numbers is needed when depositing FUTA taxes?

A) Employer Identification Number
B) Employee Social Security Number
C) Employer Dun and Bradstreet Number
D) Drivers License Number

5. Which of the following statements is true regarding FUTA tax?

A) Employers may receive a credit for a history of minimal layoffs
B) Employers may receive an additional tax for a history of minimal layoffs
C) Employees receive a credit for continuous employment histories
D) None of the answers

6. The benefits from FUTA are paid by which of the following?

A) The state-sponsored program
B) The federal-sponsored program
C) The city-sponsored program
D) The county-sponsored program

7. Which of the following is used to calculate FUTA tax?

A) Employee wages
B) Tax rate
C) Taxable wage base
D) All of the answers

8. Which of the following forms is the FUTA tax return?

A) Form 941
B) Form 8109
C) Form 940
D) None of the answers

9. What is an EIN?

A) Electronic Identification Number
B) Employee Identification Number
C) Employer Identification Number
D) None of the answers

10. Which of the following statements about FUTA is true?

A) The taxes are used to fund unemployment programs.
B) Employees may be required to pay the tax.
C) The tax is based on the employers net income.
D) None of the answers

Reference no: EM131074357

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