Panache Inc.withholds $720 from Steve's paycheck for federal income tax.This amount is part of the company's payroll tax expense.

Name: Panache Inc.withholds $720 from Steve's paycheck for federal income tax.This amount is part of the company's payroll tax expense.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The $720 withheld from Steve's paycheck for federal income tax is not part of the company's payroll tax expense; it is a deduction from Steve's gross pay that the company remits to the government on his behalf.