The foundation's paper says that the state's individual income tax,
unemployment insurance taxes andn sky - high property taxes create a difficult situation for both businesses and homeowners.
«Despite moderate corporate taxes, New York scores at the bottom this year by having the worst individual income tax, the sixth -
worst unemployment insurance taxes, and the sixth - worst property taxes.
Unemployment insurance: Applies to a business that has employees and may be obligated to pay
unemployment insurance taxes under prescribed conditions; if these conditions are applicable to your business, then you must register your business with the state work force's agency.
The rankings are based on more than 100 variables relating to corporate taxes, individual income taxes, sales taxes,
unemployment insurance taxes and property taxes.
Gross Wages for the Caregiver: $ 29,000 Social Security Taxes: $ 1,798 Medicare Taxes: $ 420.50
Unemployment Insurance Taxes: $ 258 Total Employer Taxes: $ 2,476.50 Total Cost (before tax breaks): $ 31,476.50
Unemployment Insurance Taxes are federal and state employer payroll taxes that fund Unemployment Insurance.
Although some experts contend that the problem stems from ambiguities in the law, the government says far too many businesses are using incorrect employee classifications to avoid paying Social Security, Medicare, and
unemployment insurance taxes.