A payroll tax paid solely by the employer and usually calculated as 0.6% times each employee’s first $7,000 of annual wages or salaries. (The tax rate is 6.0% but a credit of up to 5.4% is usually given for contributions to a state unemployment fund.) To learn more, see Explanation of Payroll Accounting.
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For the past 52 years, Harold Averkamp (CPA, MBA) has
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