McDonald’s Owner Operators with restaurants in Jersey City should be aware of a new quarterly payroll tax that is taking effect on December 10, 2018. This tax is an employer-based tax and equates to 1% of the quarterly payroll paid to employees who live outside of Jersey City. Payroll to employees who live in Jersey City is exempt from this tax.
For example, if a restaurant in Jersey City paid $100,000 in payroll last quarter, and all of its employees live outside of Jersey City (meaning that 100% of the restaurant’s payroll is subject to the 1% tax) then the restaurant would owe $1,000 ($100,000 x 1%) to the city for that quarter.
For more information about Jersey City’s new business payroll tax, click
here. Or, if you have any questions, please feel free to reach out to any member of your Landau Arnold Laufer team by calling
631-226-9600. And be sure to follow us on
LinkedIn and
Facebook to stay up-to-date on important information you need to run a successful business.