MGM Studios Selects ADP TaxService-SM For Payroll Tax Filing.Business Editors ROSELAND, NJ--(BUSINESS WIRE)--Feb. 1, 2000 ADP's Comprehensive Tax Solutions to Manage Payroll Tax Payroll Tax Tax an employer withholds and/or pays on behalf of their employees based on the wage or salary of the employee. In most countries, including the U.S., both state and federal authorities collect some form of payroll tax. Withholding and Residuals for MGM MGM in full Metro-Goldwyn-Mayer, Inc. U.S. corporation and film studio. It was formed when the film distributor Marcus Loew, who bought Metro Pictures in 1920, merged it with the Goldwyn production company in 1924 and with Louis B. Mayer Pictures in 1925. Employees Across the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. MGM Studios, the entertainment company behind the famed James Bond series, has selected Automatic Data Processing Same as data processing. , Inc.'s (ADP (1) (Automatic Data Processing) Synonymous with data processing (DP), electronic data processing (EDP) and information processing. (2) (Automatic Data Processing, Inc., Roseland, NJ, www.adp. (R)) TaxService(SM)to manage the recordkeeping, remittance and filing of the payroll tax withholdings for its entire employee population, ADP announced today. As the largest payroll tax service in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the leader in the outsourcing of payroll, human resource and benefits administration services, ADP deposits more than $270 billion in total payroll taxes and residual payments annually. The studio outsourced its payroll tax filings and remittances to ADP to alleviate pressure on MGM's internal payroll department. In addition, MGM will benefit from ADP's in-depth knowledge of federal, state and local tax codes which helps ensure that MGM avoids costly penalties for not complying with complex union labor or residual payment regulations. &uot;We are delighted MGM has entrusted ADP to provide this vital service,&uot; said Tim Lamb, President, ADP National Account Services. &uot;The challenge of coordinating multiple payrolls is second nature to us after 50 years in the business. We look forward to helping MGM achieve further operational efficiencies by allowing its payroll staff to focus on mission critical tasks.&uot; &uot;ADP's attention to ever-changing tax codes and its comprehensive risk aversion risk aversion The tendency of investors to avoid risky investments. Thus, if two investments offer the same expected yield but have different risk characteristics, investors will choose the one with the lowest variability in returns. plan made it an ideal choice for the outsourcing of our payroll tax filings,&uot; said Deborah Arvensen, MGM Senior Vice President and Operational Controller. &uot;Particularly with our diverse and geographically disbursed employee base and our business' complexities.&uot; ADP TaxService ADP TaxService provides a comprehensive tax processing solution that assumes responsibility for all federal, state and local payroll tax depositing and reporting. Through daily interaction with federal, state and local tax agencies, ADP's experienced tax research team stays informed about all current and proposed tax laws. This monitoring enables ADP to warn its clients of potential problems, maintain tax compliance, helps avoid costly penalties and meet critical tax deadlines. ADP TaxService is a part of ADP's FlexSourcing(TM) approach for large companies. ADP's FlexSourcing model is a service philosophy that allows clients to choose from a comprehensive suite of customizable solutions, ranging from services for existing in-house systems, all the way to full-scale outsourcing of HR, benefits and payroll functions. About ADP ADP (NYSE NYSE See: New York Stock Exchange :AUD AUD In currencies, this is the abbreviation for the Australian Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ), is one of the largest independent computing services firms in the world, with over $5 billion in revenues and more than 450,000 clients. ADP provides computerized transaction processing, data communications, software, and information services See Information Systems. to companies in virtually every industry. ADP Employer Services is the world's leading provider of payroll services and human resource administration systems. It offers a comprehensive range of benefits, payroll and business tax deposit and reporting, time and labor management, unemployment compensation management and retirement plan services. For more information about ADP, or to contact a local ADP sales office, reach us at 1-800-225-5237, Extension 5091 or visit our Web site at www.adp.com. |
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