How much (in %) would a small business end up paying in federal taxes?

Question

Also in North Carolina tax... lol

Answer 1

About 30%

Answer 2

Employer portion of Social Security Tax - 6.2% on the first $102,000 in wages for 2008.

Employer portion of Medicare Tax - 1.45%

Federal Unemployment - .8% on the first $7,000 in wages for 2008. (Can increase to 6.2% if you do not pay your State Unemployment Tax in full and on time)

North Carolina Unemployment Tax - Varies for each employer based upon history and type of business, but a brand new company in NC would start out at 1.2% on the first $18,600 in wages for 2008.

North Carolina will also sometimes impose a State Reserve Tax (SR Tax).  They only do this if they find a shortage in their available funds, but the amount can be up to 20%.

Don't forget that a company will also have to pay Worker's Compensation rates and those also vary based upon the type of business and the jobs done in that business compared with other similar businesses.

I would recommend using a payroll software for your business.  QuickBooks is great for accounting and payroll.  Intuit also offers payroll solutions that don't require you to use accounting software.