FUTA Taxes Are Paid

question 2

Multiple Choice

FUTA taxes are paid:

• A) by the end of January of the following year if the amount owed is less than $500.
• B) by the end of the month following the end of the calendar quarter if the amount owed is more than $500.
• C) at the same time as the Form 941 taxes.
• D) Both A and B are correct.

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Definitions:

Board of Directors

A group of individuals elected by the shareholders of a corporation to oversee the management and strategic direction of the company.

Trustees

Individuals or organizations entrusted with the responsibility to manage assets or property on behalf of others, often for a specific purpose or benefit.

Board of Directors

A group of elected individuals who represent shareholders' interests, oversee management, and make strategic decisions for a corporation.

Business Judgment Rule

A legal principle that protects corporate directors and officers when making business decisions, assuming those decisions are made in good faith and with due care.