A Payroll Tax Is a

question 219

Multiple Choice

A payroll tax is a

• A)fixed number of dollars that every firm must pay to the government for each worker that the firm hires.
• B)tax that each firm must pay to the government before the firm can hire workers and operate its business.
• C)tax on the wages that firms pay their workers.
• D)tax on all wages above the minimum wage.

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Definitions:

Informal Contract

An oral or written contract that is not under a seal or is not a contract of record. Also called simple contract.

Quasi-Contract

An obligation imposed by the law to avoid injustice, even though no true contract exists between the parties.

Duty to Mitigate Damages

The legal principle requiring a party suffering loss as a result of a breach of contract to take reasonable action to minimize the financial harm.

Breach of Contract

A violation of any of the agreed-upon terms and conditions of a legal contract.