Both the employer and the employee are responsible for paying
2. Medicare tax is also withheld from an employee's salary or wages and the employer is also required to pay a Medicare tax. In other words, the employer is responsible for remitting to the federal government both the employee and the employer portions of the Medicare tax.. A key component of payroll accounting is the Social Security tax. (The Social Security tax along with the Medicare tax make up what is referred to as FICA.) Social Security tax is withheld from an employee's salary or wages and the employer is also required to pay a Social Security tax. In other words, you withhold a 6.2 percent Social Security tax from your employee’s wages and you pay an additional 6.2 percent as your employer share of the tax (6.2 employee portion + 6.2 employer portion = 12.4 percent total).nlike the other FICA taxes, the 0.9 percent Medicare surtax is imposed on the employee portion only. There is no employer match for the Medicare surtax (also called the Additional Medicare Tax). You withhold this 0.9 percent tax from employee wages and you do not pay an employer’s portion. Employee portion of Medicare tax. Medicare tax is also withheld from an employee's salary or wages and the employer is also required to pay a Medicare tax. In other words, the employer is responsible for remitting to the federal government both the employee and the employer portions of the Medicare tax.. A key component of payroll accounting is the Social Security tax. (The Social Security tax along with the Medicare tax make up what is referred to as FICA.) Social Security tax is withheld from an employee's salary or wages and the employer is also required to pay a Social Security tax. You must withhold these amounts from an employee's wages. The law also requires you to pay the employer's portion of two of these taxes: 1  a 6.2 percent Social Security tax; and. 2  a 1.45 percent Medicare tax (the “regular” Medicare tax).nlike the other FICA taxes, the 0.9 percent Medicare surtax is imposed on the employee portion only. There is no employer match for the Medicare surtax (also called the Additional Medicare Tax). You withhold this 0.9 percent tax from employee wages and you do not pay an employer’s portion. The majority of employers are responsible for paying federal and state unemployment taxes. Employers are responsible for paying an employee's FUTA taxes under the Federal Unemployment Tax Act. Each state determines its SUTA tax rate.In most states, employers are responsible for paying state unemployment insurance taxes to fund their state unemployment insurance system.n general, businesses are responsible for paying federal and state unemployment insurance taxes if they paid at least $1,500 in total quarterly wages or had one or more employees who worked at least 20 weeks in one year. Employers contribute payroll taxes to fund the state-federal unemployment insurance program. In general, businesses are responsible for paying federal and state unemployment insurance taxes if they paid at least $1,500 in total quarterly wages or had one or more employees who worked at least 20 weeks in one year.n general, businesses are responsible for paying federal and state unemployment insurance taxes if they paid at least $1,500 in total quarterly wages or had one or more employees who worked at least 20 weeks in one year. Chron.com Local Directory. The federal government and the Internal Revenue Service (IRS) hold both the employer and employee responsible for paying a portion of an employee's payroll taxes.ecentages. In 2010, Social Security taxes that the employee and employer must pay were 6.2 percent each on the first $106,800 of the employee's income. Medicares taxes were 1.45 percent on all income. In 2015, the amount of Social Security tax that an employer must withhold from an employee is 6.2% of the first $118,500 of the employee's annual wages and salary; any amount above $118,500 is not subject to Social Security tax withholdings.. A key component of payroll accounting is the Social Security tax. (The Social Security tax along with the Medicare tax make up what is referred to as FICA.) Social Security tax is withheld from an employee's salary or wages and the employer is also required to pay a Social Security tax. Some states do not collect state unemployment taxes from their employers and only require them to pay federal unemployment taxes. Current through June 30, 2011, the FUTA tax rate is 6.2 percent of an employee's wages.n general, businesses are responsible for paying federal and state unemployment insurance taxes if they paid at least $1,500 in total quarterly wages or had one or more employees who worked at least 20 weeks in one year. Federal Insurance Contributions Act (FICA) tax /ˈfaɪkə/ is a United States federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, the disabled, and children of deceased workers.ederal Insurance Contributions Act (FICA) tax /ˈfaɪkə/ is a United States federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, the disabled, and children of deceased workers.
Federal Insurance Contributions Act (FICA) tax /ˈfaɪkə/ is a United States federal payroll (or employment) tax imposed on both employees and employers to fund Social Security and Medicare —federal programs that provide benefits for retirees, the disabled, and children of deceased workers.