Multiple Choice
The Anderson Company started its business on August 2,2014.On August 15th,it paid wages for the first time and accumulated a tax liability of $47,000.On August 29,it incurred an additional tax liability of $53,000.How is the Anderson Company treated as a payroll tax depositor?
A) Monthly because its accumulated tax liability is not more than $100,000 on any one day.
B) Monthly because new companies do not have a lookback period.
C) Semiweekly because its accumulated tax liability is $100,000 for the month.
D) Semiweekly for this pay period only and then monthly for the remainder of the year.
Correct Answer:
Verified
Correct Answer:
Verified
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