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Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and the employees earn $710, $835, and $1,100 per pay period. Based on the fact that the employer is required to pay the SUTA tax, calculate when and in what amounts FUTA tax payments are to be made for the year. Select the correct choice below and fil in the answer box(es) within your choice. O A. The year payment, $. must be deposited by January 31 of the next year, OB. The year payment, $ must be deposited by March 31. O C. The first payment, $, must be deposited by May 31, and the second payment, $, must be deposited by January 31 of the next year.

Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and the employees earn $710, $835, and $1,100 per pay period. Based on the fact that the employer is required to pay the SUTA tax, calculate when and in what amounts FUTA tax payments are to be made for the year. Select the correct choice below and fil in the answer box(es) within your choice. O A. The year payment, $. must be deposited by January 31 of the next year, OB. The year payment, $ must be deposited by March 31. O C. The first payment, $, must be deposited by May 31, and the second payment, $, must be deposited by January 31 of the next year.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and the employees earn $710, $835, and $1,100 per pay period. Based on the fact that the employer is required to pay the SUTA tax, calculate when and in what amounts FUTA tax payments are to be made for the year. Select the correct choice below and fillin the answer box(es) within your choice. O A. The year payment, $ must be deposited by January 31 of the next year. OB. The year payment, $, must be deposited by March 31. C. The first payment, $ must be deposited by May 31, and the second payment, S. must be deposited by January 31 of the next year.
Transcribed Image Text:Bailey Plyler has three employees in his carpet cleaning business. The payroll is semimonthly and the employees earn $710, $835, and $1,100 per pay period. Based on the fact that the employer is required to pay the SUTA tax, calculate when and in what amounts FUTA tax payments are to be made for the year. Select the correct choice below and fillin the answer box(es) within your choice. O A. The year payment, $ must be deposited by January 31 of the next year. OB. The year payment, $, must be deposited by March 31. C. The first payment, $ must be deposited by May 31, and the second payment, S. must be deposited by January 31 of the next year.
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