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Payroll taxes are taxes imposed on employers or employees, and are usually calculated as a percentage of the salaries that employers pay their employees. [1]
Railroad retirement taxes, which have historically been higher than social security taxes, are calculated, like benefit payments, on a two-tier basis. Railroad retirement tier I payroll taxes are coordinated with social security taxes so that employees and employers pay tier I taxes at the same rate as social security taxes.
The MTA tax rate is .0034 or .34%, meaning that small businesses pay $3.40 for every $1,000 of payroll. So, if your annual payroll is $100,000, you only end up paying an extra $340 worth of tax ...
On September 16, 2010, The Suffolk County Legislature held a vote on a resolution (I.R. 1875) - Directing the County Attorney to bring an action against New York State regarding the MTA payroll tax. The resolution passed with strong bipartisan support with 17 votes in favor and a single vote to oppose, which was cast by Legislator Monatano.
According to the New York State Comptroller's Office, the impact of the MTA Payroll Tax on business and non-profit organizations is about $103.9 million in Nassau County.
Hochul's preferred solution to avoid the hike came within her proposed budget, which included an MTA bailout that in part relies on raising the state's mobility tax from 0.34 percent to 0.5 percent.