If the Employer Is Tardy in Paying the State Contributions

question 91

Multiple Choice

If the employer is tardy in paying the state contributions, the credit against the federal tax is limited to what percent of the late payments that would have been allowed as a credit if the contributions had been paid on time?

• A) 6.2%
• B) 90%
• C) 5.13%
• D) 20%
• E) 0%

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Definitions:

Production Possibilities Curve

A graphical representation showing the maximum number of goods or services that can be produced efficiently with available resources and technology.

Unattainable

Something not possible to achieve or reach, often due to inherent limitations or barriers.

Output Growth Rate

The rate at which the production of goods and services in an economy increases over a specified period.

Taxation

The practice of collecting taxes by a government to fund public services, infrastructure, and other governmental functions.