Tuesday, February 8, 2011

Obama budget plan proposes an increase in payroll taxes

States would have more tools to collect additional payroll taxes from businesses under President Barack Obama's budget proposal. It would raise the level of wages on which companies must pay unemployment taxes to $15,000 from $7,000. This could potentially double the amount you are paying in state unemployment taxes.

Here is the latest from the Wall Street Journal.

http://r.smartbrief.com/resp/AXhgvscgyzgAdZnwajaoyAalBuHh?format=standard