Monday, January 23, 2012

How does one calculate employer tax percentage in NJ?

I have a small IT consulting company in NJ. How do I calculate the employer tax to inform the percentage to employees.How does one calculate employer tax percentage in NJ?
Every quarter you will receive an NJ-927 in the mail, this will have all the rates broken down by employer and employee. You can also go to https://www1.state.nj.us/TYTR_BusinessFi鈥?/a>



You will need to sign in using you taxpayer ID and your pin (which is given on your NJ-927) or if you don't have the pin you can put in your business name (your business name has to be put in exactly the way it was when you registered with the state). Once you log in go to where you would file a return and you will see the rates.



Also you do not need to inform employees of the employer paid tax portion. They only need a pay stub every time they receive a check showing a beak down of what was withheld from their pay.

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