FUTA taxes are paid: O by the end of January of the following year if the amount owed is less than $500. O by the end of the month following the end of the calendar quarter if the amount owed is more than $500. at the same time as the Form 941 taxes. Both by the end of January of the following year if the amount owed is less than $500 and by the end of the month following the end of the calendar quarter if the amount owed is more than $500 are correct. Businesses will make their payroll tax deposits based on payroll taxes collected. True False The individual employee earnings for all employees in a company are summarized on the W-3 form. O True False The W-3 is filed only for odd years. True False Which of the following statements is true? Payroll Tax Expense increases on the debit side of the account FICA-OASDI Payable is a Liability. Payroll Tax Expense has a debit normal balance. All of these answers are correct. A company must pay Form 941 taxes electronically if: they do business in multiple states. they pay more than $2,500 in a given quarter. they pay less than $2,500 in a given quarter. The company would never have to pay electronically