Amour Company started its business on July 23, 2021. On August 6, it paid wages for the
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Amour Company started its business on July 23, 2021. On August 6, it paid wages for the first time and accumulated a tax liability of $48,000. On Friday, August13, it incurred a tax liability of $52,000. How is Amour Company treated as a depositor?
a. Monthly because new companies do not have a lookback period.
b. Semi weekly because its accumulated tax liability is $100,000.
c. Monthly because its accumulated tax liability is not more than $100,000 on any one day.
d. Semi weekly for this pay period only and then monthly for the remainder of the year.
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Related Book For
Fundamentals Of Taxation 2022
ISBN: 9781264209408
15th
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander
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