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Though Hammer's Hardware stores are independently owned, operated, and managed, they have signed an agreement to participate in chain promotions, and cooperate as a unified system of stores. The Hammer's Hardware stores are using a distribution system known as a wholesaler-sponsored chain.
Required Deduction
A mandatory subtraction from gross income, such as taxes or social security contributions, which lowers taxable income.
Unemployment Tax
A tax imposed by governments on employers based on the wages paid to employees, used to fund unemployment compensation programs.
FICA Tax
A federal tax in the United States, consisting of a Social Security tax and a Medicare tax, deducted from employees' paychecks to fund these programs.
Payroll Information Sheet
A document that contains details about an employee's salary, deductions, and other payroll-related information.
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