New business owners
I own a business and form an LLC and recently hire 7 permanent employees. I operate the business in TEXAS. Do I need to comply to paying FICA, unemployment Insurance and Workers Compensation Insurance?
Yes, all employers in all US states are required to pay employees and withhold taxes to send to the government. Here’s an article to help along with a checklist of taxes and withholdings you have to manage. As far as workers compensation, Texas is the most lenient state, making it optional for most employers. I’ve attached an article on that too. (Although to protect your business assets, you might want to purchase workers comp for your employees right along with your other business insurance.)
Laura, HR Staff Writer, SPHR, MAEd