SUTA Tax Has No Maximum Amount That Can Be Paid

question 55

True/False

SUTA tax has no maximum amount that can be paid in a calendar year.

---

Definitions:

Relatively Inelastic

Describes a situation where the demand for a good or service only slightly changes in response to price changes.

Relatively Elastic

A description of a situation where the demand for a good or service significantly changes in response to a change in price.

Excise Tax

A tax on the sale or production for sale of specific goods within a country, typically on commodities like alcohol and tobacco.

Specific Items

Goods or commodities that are distinctly identified and provided in a market or contract.