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How are Fringe Benefits/Employee Business Expenses taxed?

April 26, 2017Benefits Business employee expenses Fringe TAXED

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How are Fringe Benefits/Employee Business Expenses taxed?

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A. Fringe Benefits/Employee Business Expenses are reported to the State Controller’s Office W-2 Unit (by Accounts Payable) for tax withholding as follows: Federal Income Tax: 25% (06/03/03 through 2004 – subject to change) State Income Tax: 6% Social Security: 6.2% Medicare: 1.

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Fringe Benefits/Employee Business Expenses are reported to the State Controller’s Office W-2 Unit (by Accounts Payable) for tax withholding as follows: • Federal Income Tax: 25% (06/03/03 through 2004 – subject to change) • State Income Tax: 6% • Social Security: 6.2% • Medicare: 1.45%