article thumbnail

Payroll Taxes for an Employer: How Is Payroll Tax Calculated?

Snyder

Payroll taxes can be daunting for employers to calculate and pay. With the numerous tax laws, regulations and compliance requirements, employers are required to be up-to-date on the latest regulations to ensure they’re making accurate and timely payroll tax payments. It is not intended to provide any tax advice.

article thumbnail

Employer Payroll Tax Obligations When Employees Work Out-Of-State

Anders CPA

This changing employment landscape requires employers to reassess their payroll tax withholding processes to ensure you are withholding the proper amount of state, local and unemployment taxes from your employees’ wages. Below we dive into the state and unemployment tax responsibilities employers need to know.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

5 States with the Lowest Combined Business Taxes

CPA Practice

Property and payroll taxes In addition to business or personal income taxes and sales tax, property and payroll taxes are important considerations. Property tax rates can vary significantly, impacting the cost of owning or leasing business space.

article thumbnail

How SUI and State Income Taxes Affect Small Businesses

CPA Practice

Finally, SUI tax rates tend to change from calendar year to calendar year and can rise or fall depending on the economy and the state’s unemployment fund status. Some states require employers to pay additional payroll taxes. In Kentucky, employers are required to withhold an Occupational Tax from employees’ wages.

article thumbnail

The Benefits of Delayed Business Filings

CPA Practice

Timing is Everything In the complex world of small business finance and accounting, the strategic timing of business filings can be a game-changer. She is the CEO of CorpNet , the most innovative way to start a business, register for payroll taxes, and maintain business compliance across the United States.

article thumbnail

ARPA Close-up: COBRA Premium Subsidy

ThomsonReuters

Employers were reimbursed with a payroll tax credit or a refund if the cost exceeded their tax liability. Credits were claimed through Form 941, the quarterly employment tax return. The credit will be against the employer’s share of Medicare tax. in February. Possible state amendments to existing mini-COBRA laws.

Hawaii 98
article thumbnail

The Dawn Of A Cashless Global Economy?

PYMNTS

Now legal in 23 states, with recreational use also legal in Alaska, Colorado, Oregon and Washington, marijuana is very much still a cash-based business. The outlet dug deeper into the case to reveal that Allgreens’ mistake came when it tried to pay its payroll taxes to the IRS in cash, which is actually illegal.