What are the payroll tax requirements for small businesses?

What are the payroll tax requirements for small businesses?

Small businesses must withhold federal income tax, Social Security, and Medicare taxes from employee wages.

Are there any state-specific payroll tax requirements I should know about?

Yes, each state has its own payroll tax requirements, including state income tax and unemployment insurance.

How often do I need to pay these payroll taxes?

Payroll taxes are typically due on a monthly or quarterly basis, depending on your total tax liability.

What happens if I miss a payroll tax payment?

Missing a payroll tax payment can result in penalties and interest, so it's important to stay on schedule.