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Payroll tax and income tax and business tax?

Question: Payroll tax and income tax and business tax?

(Posted by: kntrydr on 2010-03-10 13:34:42)

How much does an employer/ business pay in payroll taxes per $1 spent on payroll. How much does an employer/ business pay in business taxes on March 15th per $1 made (If Business Income is $100, 000). And how much does an individual pay in income taxes on April 15th per $1 made (If income is $100, 000). I forgot to mention in Illinois.


Posted by: insha.khan on 2010-03-10, 15:48:08

You would need to give a lot more information to answer this accurately. An employer pays 7.6 cents on the dollar in FICA tax. However, the employer is also liable for state & federal unemployment taxes & the rate on that varies by state. Regarding business taxes, it would depend on what the businesses net profit is. Regarding individual taxes, it would depend on the individual’s filing status, number of dependents claimed, amount of itemized deductions claimed, and a host of other variables.


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