Honda Auto Repair #10: Oxygen Sensors Are a Critical Key to Passing Emissions. Automotive exhaust emissions are everyone's concern because we all breathe the same air. Fifty percent of Americans live in areas that exceed national clean air standards.
If so, youâll need to collect withholding taxes. These are state and county taxes that are withheld from your employeesâ wages. Registration for withholding tax is necessary if the business has: 1  Employees. 2  Non-resident shareholders. 3  Non-resident partners. 4  Beneficiaries for distributions of income.
FICA taxes are somewhat unique in that there is required withholding from an employee's wages as well as an employer's portion of the taxes that must be paid. The Federal Insurance Contributions Act (FICA) is the federal law that requires you to withhold three separate taxes from the wages you pay your employees. FICA is comprised of: 1  a 6.2 percent Social Security tax; 2  a 1.45 percent Medicare tax (the âregularâ Medicare tax); and. 3  beginning in 2013, a 0.9 percent Medicare surtax when the employee earns over $200,000.