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As a business owner, you are subject to myriad payroll taxes: federal, state and local. Keeping track of hours worked is time consuming enough. Much less having to calculate the gross payroll, compute the withholdings, administer garnishments and track all the taxes.

Payroll Tax

Federal taxes include withholding, employee Medicare contributions, employee FICA contributions, employer matching for both Medicare and FICA and Federal Unemployment Taxes.

States have their own withholdings, unemployment insurance and workers compensation requirements. Some cities have income taxes, a per capita tax, an occupational privilege license (per employee) and more.

These monies are considered trust monies, as they are being deposited for your employees benefits. Any delays in depositing them can result in severe penalties.

Employees Monthly Semi-Monthly Bi-Weekly Weekly
1-3 $165 $205 $275 $350
4-7 $265 $350 $375 $525
8-12 $360 $475 $550 $675
13-16 $470 $580 $645 $820
17-21 $545 $685 $760 $960
22-25 $670 $840 $905 $1145
26-30 $750 $925 $1105 $1360
31-35 $845 $1070 $1180 $1500
36-40 $945 $1215 $1305 $1705
41-45 $1050 $1340 $1440 $1870
46-50 $1150 $1460 $1595 $2030
51-54 $1255 $1590 $1870 $2205

 

  • Quarterly Payroll Taxes: $175
  • New Hire Reporting: $20 / each new employee
  • Payroll Set-up Fee: $90 beginning of the calendar year or New Company, $140 for transfers
  • Employee Loans: $10 / each check
  • W-2s including annual reports: $20 / each

Employee counts are derived from number of employees on State Unemployment Tax Returns.

Payroll

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