Asked by Jeanette Retana on May 09, 2024
Verified
Which of the following is an example of a payroll tax?
A) A tax on the wages that a firm pays its workers
B) An excise tax on distilled alcohol
C) A tax on corporate profits
D) The portion of federal income taxes earmarked to pay for national defense
Payroll Tax
Taxes levied on either employers or employees, often determined as a fraction of the wages that businesses pay to their workforce.
- Identify the distinctions among several tax categories, including excise, payroll, income, and corporate taxes.
Verified Answer
AZ
Anahy ZamoraMay 12, 2024
Final Answer :
A
Explanation :
Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their staff. Choice A, a tax on the wages that a firm pays its workers, directly fits this description.
Learning Objectives
- Identify the distinctions among several tax categories, including excise, payroll, income, and corporate taxes.