Lauer Company started its business on July 24, 2018. On August 10, it paid wages for the
Question:
Lauer Company started its business on July 24, 2018. On August 10, it paid wages for the first time and accumulated a tax liability of $48,000. On Friday, August 17, it incurred a tax liability of $52,000. How is Lauer Company treated as a depositor?
a. Monthly because new companies do not have a lookback period.
b. Semiweekly because its accumulated tax liability is $100,000.
c. Monthly because its accumulated tax liability is not more than $100,000 on any one day.
d. Semiweekly for this pay period only and then monthly for the remainder of the year.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Fundamentals Of Taxation 2019
ISBN: 9781260158670
12th Edition
Authors: Ana M. Cruz Dr., Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
Question Posted: