If a Taxpayer Works for More Than One Employer During

question 61

Multiple Choice

If a taxpayer works for more than one employer during the year,how much in FUTA taxes is remitted in the name of the taxpayer?

• A)Only the first employer is required to remit FUTA taxes on the wages earned.
• B)If the employee earns more than $7,000 at the first job,all other employers are exempt from paying FUTA taxes for this employee during the year.
• C)If the employee earns less than $7,000 at the first job,the next employer must remit FUTA taxes until the employee has earned a total of $7,000.
• D)Both employers must remit FUTA taxes they pay to the employee on the first $7,000 of wages earned by the employee at each job.

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Definitions:

Economic Growth

An increase in the production of goods and services in an economy over a period, typically measured by the rise in real GDP.

Productivity

The efficiency with which goods and services are produced, typically measured in terms of output per labor hour.

Living Standards

Refers to the level of wealth, comfort, material goods available to a person, group, or nation, similar to the standard of living.

Human Capital

The collective skills, knowledge, and other intangible assets of individuals that can be used to create economic value.