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Which of the following statements about folds is NOT true?
FUTA Taxes
Federal Unemployment Tax Act taxes, which are payroll taxes paid by employers to fund the unemployment insurance system.
Liability
A company’s or individual’s legal financial debts or obligations that arise during the course of business operations.
Percentage Method
An IRS method for calculating the amount of taxes to withhold from an employee's paycheck based on income brackets.
Federal Income Tax
An annual charge imposed by the U.S. government on the income of individuals, businesses, trusts, and various legal bodies.
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