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Payroll tax
Payroll taxes are taxes on wages, including US Social Security and Medicare contributions collectively known as FICA, plus federal and state unemployment insurance. Employers withhold the employee share, pay an employer share, and deposit both on a required schedule.
In plain terms: Taxes on wages, split between what you withhold and what you pay on top.
Why it matters
Deposit deadlines are separate from income tax deadlines and carry their own penalties. Withheld payroll tax is not company money at any point — using it for cash flow is treated far more seriously than paying a corporate tax bill late.
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