As an employer, you are responsible for filing which of the following employment taxes?

Study for the Louisiana Contractor Business and Law Exam. Delve into flashcards and multiple choice questions, with hints and explanations for each. Prepare confidently for success!

As an employer, you are responsible for filing all employment taxes, which include federal income tax, social security tax, and federal unemployment tax. Each of these taxes serves a distinct purpose and contributes to different programs within the federal system.

Federal income tax is a withholding tax that employers deduct from employees' paychecks based on their earnings and the information provided on their W-4 forms. It is the employer's responsibility to ensure that the correct amount is withheld and remitted to the IRS.

Social security tax is part of the Federal Insurance Contributions Act (FICA) tax, which funds the Social Security program. Employers must collect and match social security tax contributions from their employees to fund benefits for retirees, disabled individuals, and survivors.

Federal unemployment tax, or FUTA, is designed to provide unemployment benefits to workers who have lost their jobs. Employers are required to pay this tax based on the wages paid to their employees and are responsible for filing the relevant forms to report these contributions.

Therefore, the obligation of an employer encompasses all of these taxes, highlighting the multifaceted responsibilities regarding payroll taxes within the employer-employee relationship.

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