payroll tax
noun
1
: a tax that is paid by a company and that is based on the amount of money that the company spends paying all of its employees
2
: money that is taken from a person's pay and given directly to the government as income tax
Examples of payroll tax in a Sentence
Recent Examples on the Web
The payroll tax funds Medicare and Social Security.
—
Eleanor Pringle, Fortune, 21 June 2024
As a fraction of the total amount of money collected through the payroll tax, the funding gap is about 3.5 percent.
—Jeff Sommer, New York Times, 31 May 2024
The largest cut, which would yield about two-thirds of the total pledged relief, involves reducing an existing state payroll tax from 0.5% to 0.4% of a worker’s gross earnings.
—Keith M. Phaneuf, Hartford Courant, 2 Feb. 2024
Hochul’s two plans to date to generate an alternative funding source — an increase in New York City’s payroll tax and a one-time payment of $1 billion out of the state’s general fund — were shot down by lawmakers in Albany.
—Evan Simko-Bednarski, New York Daily News, 18 June 2024
In 1983, the Social Security payroll tax was imposed on 90 percent of the country’s wage income.
—Jeff Sommer, New York Times, 31 May 2024
LendingTree would have received up to $8.3 million in future payroll tax benefits if hiring and investment commitments were met.
—Chase Jordan, Charlotte Observer, 30 May 2024
Thirty-year tax The current version of the bill would allow MTC to place on the ballot a sales tax, payroll tax, property tax or vehicle registration surcharge lasting up to 30 years.
—Daniel Borenstein, The Mercury News, 25 May 2024
Moreover, the recent removal of the wage cap on unemployment insurance payment subjects all wage income to the payroll tax, which means the state’s top marginal individual income tax rate on wage income (not all income) is now 14.4 percent.
—Robert Gutierrez, Orange County Register, 25 May 2024
Eleanor Pringle, Fortune, 21 June 2024
As a fraction of the total amount of money collected through the payroll tax, the funding gap is about 3.5 percent.
—Jeff Sommer, New York Times, 31 May 2024
The largest cut, which would yield about two-thirds of the total pledged relief, involves reducing an existing state payroll tax from 0.5% to 0.4% of a worker’s gross earnings.
—Keith M. Phaneuf, Hartford Courant, 2 Feb. 2024
Hochul’s two plans to date to generate an alternative funding source — an increase in New York City’s payroll tax and a one-time payment of $1 billion out of the state’s general fund — were shot down by lawmakers in Albany.
—Evan Simko-Bednarski, New York Daily News, 18 June 2024
In 1983, the Social Security payroll tax was imposed on 90 percent of the country’s wage income.
—Jeff Sommer, New York Times, 31 May 2024
LendingTree would have received up to $8.3 million in future payroll tax benefits if hiring and investment commitments were met.
—Chase Jordan, Charlotte Observer, 30 May 2024
Thirty-year tax The current version of the bill would allow MTC to place on the ballot a sales tax, payroll tax, property tax or vehicle registration surcharge lasting up to 30 years.
—Daniel Borenstein, The Mercury News, 25 May 2024
Moreover, the recent removal of the wage cap on unemployment insurance payment subjects all wage income to the payroll tax, which means the state’s top marginal individual income tax rate on wage income (not all income) is now 14.4 percent.
—Robert Gutierrez, Orange County Register, 25 May 2024
These examples are programmatically compiled from various online sources to illustrate current usage of the word 'payroll tax.' Any opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
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Cite this Entry
“Payroll tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/payroll%20tax. Accessed 4 Jul. 2024.
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