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Posted @ 3/17/2010 5:52 PM By MBAHRO
Payroll deductions should include state income tax and payroll insurance deductions
As a Professional Employee Organization, our clients ask us to handle their payroll responsibilities including two of the most talked about deductions: their state income tax and payroll insurance deductions.
The state income tax is part of the statutory payroll tax deductions.
As required by law, statutory Payroll Tax Deductions are payroll taxes that must be withheld from your employees paycheck. You must hand these withholdings over to the multitude of tax agencies on all levels of government.
Local tax withholdings (city, county, or school district taxes, state disability or unemployment insurance).
State income tax withholding
Federal income tax withholding
Social Security tax withholding
Medicare tax withholding
The payroll insurance deductions are part of the Voluntary Payroll Deductions
Voluntary deductions pay for various benefits which the employee has chosen to parti ...