Question

Which payroll taxes are the employee’s responsibility and which are the employer’s responsibility?

Answer 1

Employee's responsibilty for payroll tax include the given below:

1) Medicare tax (1.45% of salary) under FICA

2) Social Security tax (4.2% of Salary) FICA

3) Medical insurance of employee

4) Federal income tax of employee

5) Salaries and other expenses.

Employer's Resposibility for Payroll tax include the given below:

1) Withholding tax ( a portion of employee's payable income tax that must be withheld from his/her salary).

2) Social Security rax (6.2% of salary)

3) Medicare tax (1.45% of salary).

4) Unemployment tax ( varies by jurisdiction and industry)

5) Federal Unemployment tax under FUTA return.

6) State Unemployment tax under SUTA return.