Question

On payday, a monthly depositor's payroll tax liability of $105,000.00 must be deposited:

A. by the 15th day of the next month.
B. by the next business day.
C. within three business days.
D. by the end of the month.

Answer 1

The monthly payroll tax liability of $105,000.00 must be deposited by the 15th day of the next month.

Step-by-step explanation:

The monthly payroll tax liability of $105,000.00 must be deposited:
A. by the 15th day of the next month.
B. by the next business day.
C. within three business days.
D. by the end of the month.

Payroll taxes are taxes that employers are required to pay when they pay salaries to their staff. These taxes generally fall into two categories: deductions from an employee's wages and taxes paid by the employer based on the employee's wages. The payroll tax liability should be deposited by the 15th day of the next month.