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anksrpt
Feb 3, 2009, 08:07 PM
How much % employer need to pay as tax on income?

My employer is earning $8000 /month ,how much he need to pay as tax if the organization is registerd in Virginia. My Employer saying about 15% will he need pay the tax ,he is paying me 80% after his 5% commission. In that 80% what I am getting state and federal withholding and medicare will be deducted.

I wonder in Virginia is the tax for the employer on his income is 15% ? I was thinking it should be less than 10% is n't it so?

Please let me know.

Thanks,
Ank

AtlantaTaxExpert
Feb 9, 2009, 02:36 PM
Ank:

The Social Security (6.2%) and Medicare (1.45%) are flat taxes which are withheld from your salary at the percentages noted. Your EMPLOYER then matches the withholding dollar-for-dollar and deposits it at a Federal Reserve Bank, usually on a bi-weekly basis.

These tax, by themselves, represents 15.3% of the income.

However, there is also state and federal income tax withholding, which can be as little as ZERO or as much as 49%, plus workmen's compensation, plus unemployment insurance.