Withholding and paying payroll taxes are fundamentally the responsibility of any employer and required by law. Employee withholdings, which are deducted from the employee's gross wages and paid by the employer, include federal income tax, Social Security tax, Medicare, state income tax and various local taxes, as well. In addition, employers are required to pay their own portion of payroll taxes, including Social Security, Medicare, Federal (FUTA) and State Unemployment (SUTA).
Your Relationship Manager can help you establish the team of advisors you need to work through the complexity of establishing or enhancing your payroll system. Call Hometown Bank today for our payroll solutions!