"CBO’s analysis of effective tax rates assumes that households bear the burden of the taxes that they pay directly, such as individual income taxes and employees’ share of payroll taxes. CBO assumes—as do most economists—that employers’ share of payroll taxes is passed on to employees in the form of lower wages than would otherwise be paid. Therefore, the amount of those taxes is included in employees’ income, and the taxes are counted as part of employees’ tax burden." http://www.cbo.gov/sites/default/files/EffectiveTaxRates2006.pdf Page 3
Note that an equivalent Self Employment Tax is imposed on self-employed persons, including independent contractors, under 26 USC 1401. Wages and self employment income subject to these taxes are defined at 26 USC 3121 and 26 USC 1402 respectively.
See 26 USC 6302 and IRS Publication 15 for Federal requirements. EFT is required for Federal payments if aggregate Federal tax payments, including corporate income tax and payroll taxes, exceeded $200,000 in the preceding year. See, e.g., NJ Income Tax - Reporting and Remitting, New Jersey requirements for weekly EFT payment where prior year payroll taxes exceeded $10,000.
The Employees Pensions Act (first link) provides that the employee contributes to a pension fund by paying a part from their compensation for employment – i.d., from their wages or their salary. What constitutes employment is defined in the Employment Contracts Act (second link):
Ministry of Justice. Työntekijän eläkelaki [Employees Pensions Act] (in Finnish). s 2(1)(2). Retrieved 26 May 2024.
Ministry of Justice. Työntekijän eläkelaki [Employees Pensions Act] (in Finnish). ss. 4(2)(1) and 4(2)(2). Retrieved 26 May 2024.
Ministry of Justice. Työntekijän eläkelaki [Employees Pensions Act] (in Finnish). s 152(2). Retrieved 26 May 2024.
The Act on the Financing of Unemployment Benefits (555/1998) section 12 subsection 1 (first link) provides that everyone employed in Finland is required to pay unemployment insurance fee. The section 12a subsection 1 paragraphs 1–2 (second link) provide for the age limit:
Ministry of Justice. Laki työttömyysetuuksien rahoituksesta [Act on the Financing of Unemployment Benefits] (in Finnish). s 12(1). Retrieved 26 May 2024.
Ministry of Justice. Laki työttömyysetuuksien rahoituksesta [Act on the Financing of Unemployment Benefits] (in Finnish). s 18(1). Retrieved 26 May 2024.
Ministry of Justice. Sairausvakuutuslaki [Health Insurance Act] (in Finnish). ch 1 s 2(1). Retrieved 27 May 2024.
Ministry of Justice. Sairausvakuutuslaki [Health Insurance Act] (in Finnish). ch 18 ss. 5(1) and 5(2). Retrieved 27 May 2024.
See IRS Form W-2 Instructions. Note that some states and cities obtain their W-2 information from the IRS and from taxpayers directly.
See 26 USC 6302 and IRS Publication 15 for Federal requirements. EFT is required for Federal payments if aggregate Federal tax payments, including corporate income tax and payroll taxes, exceeded $200,000 in the preceding year. See, e.g., NJ Income Tax - Reporting and Remitting, New Jersey requirements for weekly EFT payment where prior year payroll taxes exceeded $10,000.
See 26 USC 6302 and IRS Publication 15 for Federal requirements. EFT is required for Federal payments if aggregate Federal tax payments, including corporate income tax and payroll taxes, exceeded $200,000 in the preceding year. See, e.g., NJ Income Tax - Reporting and Remitting, New Jersey requirements for weekly EFT payment where prior year payroll taxes exceeded $10,000.
