Select the correct answer.

What are payroll taxes levied on?

A. a business's profits
B. an individual's dividend income
C. the wages or salaries of a company's employees
D. the goods and services purchased by people
E. a piece of land

Question

01-08-2024
Business

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Select the correct answer.

What are payroll taxes levied on?

A. a business's profits
B. an individual's dividend income
C. the wages or salaries of a company's employees
D. the goods and services purchased by people
E. a piece of land

Sagot :

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Final answer:

Payroll taxes are levied on a company's employees' wages or salaries and are paid by both the employees and the employer.

Explanation:

Payroll taxes are taxes imposed on a company's employees' wages or salaries. These taxes fall into two categories: deductions from an employee's wages and taxes paid by the employer based on the employee's wages. Payroll taxes are distinct from taxes on profits, individual dividends, or goods and services.

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