Employment Tax
/ɪmˈplɔɪmənt tæks/
Definitions
- (n.) A tax levied on employers or employees, often based on wages or payroll, to fund social insurance programs such as Social Security and Medicare.
The company must withhold employment tax from employee paychecks and remit it to the government.
Forms
- employment tax
Related terms
See also
Commentary
Employment taxes vary by jurisdiction but typically include mandatory contributions to social welfare programs; precise definitions should reference applicable statutes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.