|payroll january 2017||1.14||0.8||2891||24|
The employer portion of payroll taxes includes the following: Social Security taxes of 6.2% in 2020 and 2021 up to the annual maximum employee earnings of $137,700 for 2020 and $142,800 for 2021 Medicare taxes of 1.45% of wages 2 Federal unemployment taxes (FUTA) State unemployment taxes (SUTA)What is the payroll tax for employers?
What is a 'Payroll Tax'. A payroll tax is a tax that an employer withholds from an employee's salary and pays on behalf of his employees. The payroll tax is based on the wage or salary of the employee. In most countries, including the United States, federal authorities and some state governments collect some form of payroll tax.