Employees who earn regular wages in the United States generally see several different types of taxes withheld from their paychecks, though the exact amounts vary from one worker to the next. As HowStuffWorks explains, the total amount paid per check is the sum of these different obligations. Each paycheck is subject to federal payroll taxes, Social Security withholding, Medicare tax and a federal unemployment tax.Know More
Employers in the United States are required by law to withhold federal payroll taxes from the checks of their employees. The amount to be withheld, deposited and reported to the IRS is set by the answers the employee gave to the questions on IRS form W-4 at hiring. Additionally, according to HowStuffWorks, the employer is required to deduct 6.2 percent of the employees' wages to fund Social Security as well as to contribute a matching amount. Medicare and federal unemployment benefits are funded by a withholding of 1.45 percent each, along with matching contributions from the employer.
In addition to federal taxes, employees are sometimes required to pay state taxes that are generally withheld in the same way as federal taxes. These taxes vary by state, with some states charging no income taxes at all, according to CNN Money.Learn more about Taxes
A W-2 is a form that states how much an employee earned in wages and how much federal, state and local taxes were withheld from the wages during a year. The W-2 form is also called the wage and tax statement.Full Answer >
A taxpayer who claims exempt on a W-4 form turned into an employer has Social Security and Medicare taxes taken out of a regular paycheck, according to the Internal Revenue Service. As of 2014, the Social Security tax rate is 6.2 percent and Medicare tax rate is 1.45 percent.Full Answer >
Personal property taxes are a locally assessed tax, and payment dates are determined by the local assessor's office, according to Prager Metis. The tax is assessed annually, and local citizens receive a tax bill from the city or county assessor providing payment information.Full Answer >
State tax forms are the forms necessary for paying state income taxes. Each state that has an income tax produces its own set of forms; these are available online for free through various state government websites.Full Answer >