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Beginning July 1, Washington will be the first state to deduct money from workers’ paychecks to finance long-term care benefits for residents who can't live independently due to illness, injury ...
The tax is paid by employers based on the total remuneration (salary and benefits) paid to all employees, at a standard rate of 14% (though, under certain circumstances, can be as low as 4.75%). Employers are allowed to deduct a small percentage of an employee's pay (around 4%). [7] Another tax, social insurance, is withheld by the employer.
The Washington State Liquor and Cannabis Board, formerly the Washington State Liquor Control Board, is an administrative agency of the State of Washington. The Liquor and Cannabis Board is part of the executive branch and reports to the Governor. The board's primary function is the licensing of on and off premises establishments which sell any ...
State income tax is imposed at a fixed or graduated rate on taxable income of individuals, corporations, and certain estates and trusts. These tax rates vary by state and by entity type. Taxable income conforms closely to federal taxable income in most states with limited modifications. [2]
The Federal Unemployment Tax Act (or FUTA, I.R.C. ch. 23) is a United States federal law that imposes a federal employer tax used to help fund state workforce agencies. Employers report this tax by filing Internal Revenue Service Form 940 annually.
FICA payroll taxes that contribute to Social Security and Medicare include both an employer and employee portion. W-2 employees have that employer portion paid by the employer, but 1099 ...
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