Baker Company is trying to determine how often it needs to deposit payroll taxes for calendar year
Question:
Baker Company is trying to determine how often it needs to deposit payroll taxes for calendar year 2017. The company made the following quarterly payroll tax deposits during the last two years:
Quarter beginning January 1, 2015…………….……..........$10,000
Quarter beginning April 1, 2015………….……...................10,000
Quarter beginning July 1, 2015…………….………................11,000
Quarter beginning October 1,2015..................................12,000
Quarter beginning January 1, 2016..................................12,000
Quarter beginning April 1, 2016.......................................12,000
Quarter beginning July 1, 2016.........................................11,000
Quarter beginning October 1, 2016.................................12,000
a. What is the amount from the lookback period?
b. In 2017 how often must Baker Company make payroll deposits?
Step by Step Answer:
a 47000 Quarters beginning July 12015 A...View the full answer
Fundamentals Of Taxation 2018
ISBN: 9781259713736
11th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler
