Which of the Following Is Required to Be Withheld from Employee's

question 31

Multiple Choice

Which of the following is required to be withheld from employee's gross pay?

• A) both federal and state unemployment compensation taxes
• B) only federal unemployment compensation tax
• C) only federal income tax
• D) only state unemployment compensation tax

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Definitions:

Excise Tax

A tax on specific goods, such as alcohol and tobacco, typically imposed at the point of manufacture or sale.

Total Tax Revenue

The total amount of money collected by the government from taxes, which can come from various sources like income taxes, sales taxes, and corporate taxes.

Shrimp Market

The global or local market involved in the trading and selling of shrimp, encompassing both wild-caught and farmed shrimp.

Excise Taxes

Excise taxes are taxes paid when purchases are made on a specific good, such as gasoline. They are often included in the price of the product.