payroll tax
noun
1
: a tax that is paid by a company and that is based on the amount of money that the company spends paying all of its employees
2
: money that is taken from a person's pay and given directly to the government as income tax
Examples of payroll tax in a Sentence
Recent Examples on the Web
Moore says that Trump would avoid cutting Social Security benefits by increasing payroll tax revenues through faster economic growth.
—
Ben Adler, USA TODAY, 26 Oct. 2024
Every year since, the payroll tax revenue has not been enough to cover all the benefits paid to current retirees.
—Veronique De Rugy, Orange County Register, 17 Oct. 2024
More from Personal Finance: Social Security payroll tax limit increases for 2025
Trump’s tax cuts could expire after 2025
Taxpayers in 25 states get extra time to file 2023 federal taxes
An auto interest deduction would also come at a large cost to the federal government, experts say.
—Greg Iacurci, CNBC, 14 Oct. 2024
Harris has also called for an end to income taxes on tips, but the proposal includes keeping payroll tax requirements and restrictions on what type of employees would be eligible, costing $200 billion, CRFB estimated.
—Kate Gibson, CBS News, 7 Oct. 2024
See all Example Sentences for payroll tax 
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Ben Adler, USA TODAY, 26 Oct. 2024
Every year since, the payroll tax revenue has not been enough to cover all the benefits paid to current retirees.
—Veronique De Rugy, Orange County Register, 17 Oct. 2024
More from Personal Finance: Social Security payroll tax limit increases for 2025
Trump’s tax cuts could expire after 2025
Taxpayers in 25 states get extra time to file 2023 federal taxes
An auto interest deduction would also come at a large cost to the federal government, experts say.
—Greg Iacurci, CNBC, 14 Oct. 2024
Harris has also called for an end to income taxes on tips, but the proposal includes keeping payroll tax requirements and restrictions on what type of employees would be eligible, costing $200 billion, CRFB estimated.
—Kate Gibson, CBS News, 7 Oct. 2024
See all Example Sentences for payroll tax
Dictionary Entries Near payroll tax
Cite this Entry
“Payroll tax.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/payroll%20tax. Accessed 14 Nov. 2024.
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