Payroll tax is the tax paid by the employer on the salary and wages paid to employees. It includes withholding taxes deducted from the worker's paycheck as well as taxes paid by the employer: employers portion of Social Security and Medicare, federal and state unemployment tax, and in many states workers compensation.
Related Fool Articles
Recent Mentions on Fool.com
- The Coming Social Security Crisis Explained in Plain English
- Social Security: 3 Confusing Aspects You Need to Understand
- Long-Term Job Trends Are Better -- and Worse -- Than They Appear
- Social Security: What Barack Obama and Warren Buffett Want You to Know
- Will Social Security Be There for You?
- Social Security: 5 Steps to Offset the Shortfall