Payroll Taxes
/ˈpeɪˌroʊl tæk.sɪz/
Definitions
- (n.) Taxes imposed on employers and employees based on wages paid, funding social insurance programs such as Social Security and Medicare.
Employers must withhold payroll taxes from employees’ salaries and remit them to the government.
See also
Commentary
Payroll taxes are distinct from income taxes and specifically fund social insurance and employment-related benefits.
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.