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Heads Up! Payroll Changes Coming in July

ThomsonReuters

But before we give you a state-by-state rundown on the more mundane upcoming changes, here’s one federal reminder that beginning July 1, 2021, the Employee Retention Credit is claimed against only the employer share of Medicare tax. State by State Payroll Tax Changes. per hour; (3) non-urban counties: $12.00

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Direct vs. indirect tax: the differences

ThomsonReuters

Here are the main differences between direct and indirect taxes: Direct taxes Levied on people and entities Are typically proportionate to the taxpayer’s income or assets Considered a progressive tax. The Tax Cuts and Jobs Act (TCJA) of 2017 reduced the federal corporate income tax rate from 35 percent to 21 percent.

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