Answered: Since not-for-profit corporations are…

Since not-for-profit corporations are exempt from federal income taxes, they are not defined as employers under the federal income tax withholding law. O True O False

Century 21 Accounting General Journal

11th Edition

ISBN:9781337680059

Author:Gilbertson

Publisher:Gilbertson

Chapter12: Preparing Payroll Records

Section12.2: Determining Payroll Tax Withholding

Problem 1AYU

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Since not-for-profit corporations are exempt from federal income taxes, they are not defined as employers under the federal income tax withholding

law.

O True

O False

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