The Cost of Fees for Insuring the Title and Any

question 227

True/False

The cost of fees for insuring the title and any accrued property taxes are included in the cost of land.

---

Definitions:

FUTA Tax Liability

Federal Unemployment Tax Act liability, which denotes the tax employers must pay to fund the federal government's unemployment benefits.

Earnings

The amount of profit that a company produces during a specific period, which is calculated as revenues minus expenses.

Advance Premium

An advance premium refers to payments made by policyholders to insurers, covering future periods of insurance coverage.

Workers' Compensation

Insurance offering medical benefits and compensation for lost wages to employees who get injured while working.