State sales and Use Tax, taxes, Unemployment

Question 1

The sales and use tax act of california is administered by

Answer 1

the board of equalization

Question 2

the sales and use taxes of california are collected by

Answer 2

the board of equalization

Question 3

the states share of the sales or use tax is

Answer 3

7.25%

Question 4

the percentage of tax in addition to that which the state keeps for itself is refunded to

Answer 4

the county and the city depending on the amount

Question 5

anyone who sells tangible personal property to the final consumer must

Answer 5

-have a resale certificate
-collect sales tax on the items sold
-account for and remit sales taxes collected to the state

Question 6

most contractors

Answer 6

-are considered consumers and pay sales tax when purchasing building materials
-are not required to have a resale certificate
-do not charge tax when they sell a structure or improvement that they have built

Question 7

which of the following types of contractors should have a resale certificate

Answer 7

electrical and plumbing

Question 8

the california unemployement insurance act is administed by

Answer 8

the department of employement development

Question 9

every contractor must cover his employees with unemployement insurance if

Answer 9

-he has one or more employees
-his total payroll is more than $100 per calander quarter

Question 10

anyone who becomes and employer must register with the

Answer 10

department of employement

Question 11

the california unemployement insurance code

Answer 11

protects against wage loss for those who are unemployed but able to, and available for work

Question 12

an employer who has a good record with no unemployemnt claims against his reserve fund will qualify for a lower unemployment tax rate after ____ years

Answer 12

3

Question 13

which of the following is not deducted from an employees pay

Answer 13

-federal unemployment tax

Question 14

federal unemployement insurance is paid for by

Answer 14

the employer only

Question 15

a new contractor pays a basic unemployement insurance rate. This rate

Answer 15

-is increased or decreased after 3 years based on the contractors unemployment insurance reserve
-is increased or decreased after 3 years based on the number of claims against the contractors fund reserve
-is started at 3.4%

Question 16

a contractor can deduct a percentage of his employees wages for

Answer 16

state disability insurance

Question 17

the self employed person pays FICA payements based on

Answer 17

either gross income less direct and indirect expenses for the entire calander year or net income at the end of each calander year

Question 18

the employers payments and the payments deducted from the employees wages are paid to

Answer 18

the IRS

Question 19

the federal insurance contribution act contains benefits for employers and employees after they have reached the age of

Answer 19

62

Question 20

every employer must tender to each employee with his paycheck a written statment showing

Answer 20

-the dates durrign the pay period on which the employee worked
-the wages earned in the pay period
-the deductions that were taken

Question 21

the FICA contribution report and payment by the self employed person is made

Answer 21

annualy

Question 22

social security benefits are paid to the ____ of a deceased wage earner who contributied to FICA

Answer 22

-minor children
-children that are students
-widow

Question 23

all former wage earners who are 65 years of age or older are eligible for the health care benefits known as medicare. this include

Answer 23

-medical insurance
-hospital insurance
-doctors visitations and visits to the doctor

Question 24

an employer files with the IRS his own FICA tax reports

Answer 24

quarterly

Question 25

a social security benefit recipient can earn an unlimited amount without affecting benefits after reaching

Answer 25

65

Question 26

all contractors must file a ____ on every employee in order to obtain an employers identification number for employee social security contribution filing purposes

Answer 26

form 1R-12

Question 27

federal and state income taxes are

Answer 27

-paid on or before april 15th of each year
-often estimated and paid quarterly
-paid for the period of january 1st through december 31st of the previous year

Question 28

which entitys pay no income tax

Answer 28

-a partnership
-general partners
-corporate officers