There are several different types of payroll taxes. Some are remitted biweekly, while others are remitted monthly or quarterly. Payroll tax forms are due the month following the end of the quarter (April, July, October, and January of the following year).
Federal Income Tax: All employees in Utah, like in other states, are subject to federal income tax. Employers are responsible for withholding the appropriate amount from employees' paychecks and remitting it to the Internal Revenue Service (IRS).
Social Security Tax: Both employers and employees are required to contribute to Social Security. The current Social Security tax rate is 6.2% for both employers and employees, up to a certain income limit.
Medicare Tax: Both employers and employees are also required to contribute to Medicare. The current Medicare tax rate is 1.45% for both employers and employees, with an additional 0.9% for high-income employees.
Utah State Income Tax: Utah has a state income tax, and employers are responsible for withholding the appropriate amount from employees' wages and remitting it to the Utah State Tax Commission.
Federal Unemployment Tax (FUTA): Employers are required to pay federal unemployment tax based on the wages paid to employees. This tax helps fund unemployment benefits at the federal level.
Utah State Unemployment Tax: Employers are also responsible for paying state unemployment tax to the Utah Department of Workforce Services. The rate may vary based on the employer's experience rating and other factors.
Please note that tax laws can change over time, so it's essential to check for any updates or changes in the tax regulations. For the most current and accurate information, reach out to a tax professional near me.
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