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Payroll Tax |
Also found in: Wikipedia | 0.07 sec. |
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Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. Notes: Governments use revenues from payroll taxes to fund such programs as social security, health care, unemployment compensation, worker's compensation, and sometimes even local governments require a small tax to maintain and improve local transportation.
On an employee pay stub, payroll taxes deducted are likely to be itemized. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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