It’s been a while since my husband was in business and we had to make payroll every week, but the corporation would match the FICA and Medicare tax and pay that to the government. I’m assuming that they will now be paying an increase (or maybe they have been held to the higher rate all along and just the employee was given a break).
Hopefully someone who is a small businessman will clarify this.
If the corporations have been paying the smaller rate this will affect their bottom line, new hiring, raises, etc.
Employers paid the existing rate. Skin came off the employee.