Difference between an income tax and a payroll tax? 3043
MarksBradshaw last edited by
I would like to know that What is the difference between an income tax and a payroll tax?
I would appreciate for any help .
kymike last edited by
An income tax is Federal, State or Local tax that is withheld from a paycheck and is credited against an employee’s annual income tax return.
Payroll tax is also withheld, but represents FICA or another tax that is generally also assessed to the employer. This tax is on the gross earnings and is not credited to a future income tax return.