For Personal Property Placed in Service in 2018, the §

question 30

True/False

For personal property placed in service in 2018, the § 179 maximum deduction is limited to $1,000,000.

---

Definitions:

FUTA

The Federal Unemployment Tax Act, which imposes a payroll tax on businesses with employees to fund state workforce agencies.

SUTA

State Unemployment Tax Act; a type of payroll tax that employers pay to their state to fund the state's unemployment insurance program.

State Rate

Often refers to the interest rate or tax rate set by individual states, which can vary from one state to another.

FUTA

The Federal Unemployment Tax Act, legislation that funds unemployment compensation programs in the United States.