I believe if you had no tax liability (didn't have to pay in , got a refund instead ) the previous year you don't have to pay quarterly .
operating authority
Discussion in 'Ask An Owner Operator' started by Stroked F550, Dec 27, 2008.
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Then, you are an officer. You will have a salary. It will have withholding taxes for federal and state. You will have ss and medicare tax withheld.
Companies have to pay in the withholding into the government. Depending on the amount of the salary, it could be monthly or quarterly.
You will have to file quarterly payroll reports. -
and let's not forget that their is a company match to any and all employee's withholding's.
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Only on social security tax and medicare tax. These are handled in the quarterly payroll reports.
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