What is Required to Process Payroll?

Any BD company must go through a number of steps before issuing a paycheck. You will require:

1. A national EIN (employer identification number)
2. Any applicable state and local tax identification numbers
3. Occupational tax forms (Forms I-9, W-4 and W-9)
4. A bank account for taxes and salaries
5. A payroll supervisor (either you or someone hired or designated by you)
6. Clearly spelt out firm payroll policies in your employee handbook
7. A payroll calendar

Once you’ve put everything in place, you may choose the specific payroll processing strategy that will work the best for you.