Question

If the FUTA tax liability for a quarter is less than $500.00, the taxes must be deposited:

A. by the last day of the quarter.
B. by the 15th of the month following the end of the quarter.
C. by the end of the month following the end of the quarter.
D. with the next quarter's liability if the total liability exceeds $500.00.

Answer 1

If the FUTA tax liability for a quarter is less than $500, the taxes must be deposited by the end of the month following the end of the quarter.

Step-by-step explanation:

If the FUTA tax liability for a quarter is less than $500.00, the taxes must be deposited by the end of the month following the end of the quarter. This means that if the tax liability for a quarter is less than $500, the taxes must be deposited within the following month after the end of that quarter.