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Taxes that are taken out of your pay before you get it. These typically include income taxes, social security taxes and Medicare taxes.
Wiki User
∙ 6y ago
Wiki User
∙ 11y agoTax deducted from source
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What does FWT mean on payroll check stub?
Federal Withholding Tax
Is distribution of dividends subject to expanded withholding tax how much?
If by expanded withholding tax you mean "backup withholding" applicable to only certain people/Cos (especially foreign), yes. I've never hear of the term you used.
Why withholding tax is required in SAP?
Withholding tax is not required in SAP but this functionality available for the countries where it is required. There are two kinds of Withholding tax, Classic and Extended.
Difference between income tax and withholding tax?
The income tax is what is paid by "withholding of tax" from someones payment/pay. Other taxes or charges, like insurance, worker comp, etc may be [apd by withholding the amount from payment/payroll. There is really no such thing as a tax on withholding.
What is Classic Withholding Tax?
Classic Withholding Tax applies to the practice in some countries for people paying invoices to hold back a certain portion of their payment for withholding tax purposes. The United Kingdom is one of the countries the utilizes the Classic Withholding tax method.
Is withholding tax a direct tax?
yes
What does SWT mean on payroll stub?
State Withholding Tax, which is to pay state taxes
What is total federal income tax withholding reported on the Thurstons' tax return?
16. The Thurstons' total federal income tax withholding is $
What is the type of tax you pay from their salary?
withholding tax
Is overseas communication tax an expanded withholding tax?
No. Its an excise tax
What is the money retained from a paycheck and credited against tax liability?
It is called tax withholding. Many people simply call it withholding.
Is a retirement pension subject to Federal Income tax withholding?
Yes, retirement pensions are typically subject to Federal Income tax withholding unless they are from non-taxable sources such as Roth IRAs. The amount of tax withheld depends on the individual's withholding elections and tax bracket.
