Utah General Contractors - Business and Law Practice Exam

As an employer, which of the following employment taxes are you responsible for filing?

1. State unemployment tax

2. Federal income tax

3. Social security tax

4. All of the above

The correct answer is: All of the above

Employers are responsible for filing multiple types of employment taxes, which encompasses both state and federal obligations. The state unemployment tax is crucial as it funds the state's unemployment insurance program, providing benefits to eligible workers who have lost their jobs. Employers must file and pay this tax in accordance with state guidelines. Federal income tax withholding is another key responsibility of employers. They must withhold the appropriate amount of federal taxes from employees' wages based on their earnings and completed W-4 forms, and then remit these amounts to the IRS on behalf of the employees. Social security tax is also a vital part of employment taxes. Employers are required to match the Medicare and Social Security taxes deducted from employees' paychecks. This tax supports the Social Security program, which provides benefits for retirees and disabled individuals. Given that all three types of taxes are part of the employer's obligation, the correct response identifies the comprehensive nature of these responsibilities. Employers must ensure that they comply with federal and state regulations by accurately filing all these taxes to avoid penalties and ensure the proper functioning of social safety nets and unemployment insurance systems.