Definition of Payroll Liabilities | Taxes and Deductions Due

Payroll Definitions

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Payroll Liabilities Definition

Definition
Any amount withheld from an employee’s pay and payable to another entity, such as a taxing entity. Most common payroll liabilities include federal and state income tax, Social Security and Medicare. Employers withhold the proper amounts from an employee’s payroll check and remit the taxes according to a set schedule.

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