_________ Is the State Counterpart of the Federal Unemployment Tax

question 10

Multiple Choice

_________ is the state counterpart of the Federal Unemployment Tax Act.

• A) State Income Tax Act
• B) Fair Labor Standards Act
• C) Worker's compensation insurance
• D) State Unemployment Tax Act

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Definitions:

FICA Tax Rate

The combined rate for Social Security and Medicare taxes that employers and employees must pay on wages.

OASDI

Old-Age, Survivors, and Disability Insurance, a comprehensive federal benefits program that includes retirement, disability, and survivors benefits.

State Income Tax

A tax levied by a state on the income of its residents and businesses operating within its jurisdiction.

Federal Income Tax

The annual income of individuals, corporations, trusts, and other legal organizations is subject to taxation by the IRS.