What Is Self-Employment Tax?
Self-employed individuals are subject to different challenges when it comes to taxes. Staying diligent and keeping accurate records can go a long way in easing the frustration.
Florida may have no state income tax, but there is still a lot to know about taxes in the Sunshine State. PaycheckCity's Payroll Resources houses all of the tax research behind the paycheck calculators on PaycheckCity. Read this article for our current research on Florida taxes including state tax, unemployment, income tax, and more.
Florida may have no state income tax, but there is still a lot to know about taxes in the Sunshine State. PaycheckCity's Payroll Resources houses all of the tax research behind the paycheck calculators on PaycheckCity. Read this article for our current research on Florida taxes including state tax, unemployment, income tax, and more.
Florida Department of Revenue
Florida Agency for Workforce Administration
• Register as employer by filing Form DR-1 (Application to Collect and/or Report Tax in Florida). To apply online click here.
• No Withholding Tax
• Withholding Method = none
• Supplemental Rate = none
none
Report quarterly wages and contributions by filing Form UCT-6 (Employer's Quarterly Tax Report) and Form UCT-6 (Employer's Quarterly Tax Report) by last day of month following end of quarter.
To file online click here.
Wage base is $8,000 for 2014
Rates range from 1.02% to 5.40% in 2014Participants in the short-time compensation program are subject to rate 1% about the maximum.
New employers use 2.7% for 2014. There is a special assessment tax for 2012. Contact DEO for more information. Benefit ratio formula
none
Minimum wage - $7.93 per hour for 2014
Termination Pay - no provision.
Employers must report hiring, rehiring, and return reporting to work within 20 days of the first day of work on form W-4 (or equivalent) to:
Florida New Hire Reporting Center
P.O. Box 6500 Tallahassee, FL 32314-6500 (888)-854-4791 (888)-854-4762 (fax)
To report online click her
eRemit withholding for child support to:
State Disbursement Unit
P.O. Box 8500 Tallahassee, FL 32314-8500877-769-025<br /
To report online click here.
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For a Florida paycheck calculation visit the Paycheck Calculator of PaycheckCity.
Self-employed individuals are subject to different challenges when it comes to taxes. Staying diligent and keeping accurate records can go a long way in easing the frustration.
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Your filing status is perhaps the most important piece of information when it comes to tax withholding. Learn which filing status applies to you.