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
- Intuit Divests Quicken, and Doubles Down on Its Online Ecosystem
- It Could Be Time to Say Bye-Bye to Medicare
- Who's Ready for a 10% Cut to Their Social Security Benefits?
- ADP Earnings Fail to Impress, but Strong New Business Bookings Bode Well for Future Growth
- 2015 Social Security Trustees Report: The 3 Things You Should Know
- 4 Things to Watch When Buffalo Wild Wings Reports Earnings