You need to change your payroll tax before the first salary payments of 2011
Posted by robkraft on December 28, 2010
The Federal Government has reduced the employee portion of Social Security Taxes to be witheld from 6.2% to 4.2% in 2011. If you are self-employed as a corporation and are paying yourself a salary you will begin withholding 10.4% instead of 12.4%. The employer portion remains at 6.2%, but the employee portion is reduced from 4.2%.