payroll deduction

payroll deduction definition - business

payroll deduction

Money withheld from an employee's gross income. Payroll deductions include federal and state withholding for taxes, insurance premiums, and retirement savings plans.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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