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Requirements for Payroll Taxes
Any business with employees of any type must comply with federal and state payroll requirements. This is true even if you are the sole employee of a corporation that you own. It is critical that you understand the various deadlines and requirements, or that you use the services of someone who does.The major types of payroll taxes in Michigan are:
- Income Tax Withholding (federal, state, and, if applicable, local)
- Federal Social Security Tax (FICA)
- Federal Unemployment Tax Act (FUTA)
- Michigan Unemployment Tax
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