Mercury Payroll* lets you pay and manage your team from the Mercury account you already use, without a separate app or login. This article covers what’s included, what you need to run payroll, and how pricing works.
What’s included with Mercury Payroll
Payroll processing
Mercury Payroll supports:
- Payroll processing for W-2 team members and domestic contractors
- Direct deposit for your team
- Federal, state, and local tax payments
- Payroll tax filings for payroll periods run on Mercury
- Year-end W-2s and 1099s
- Automated state payroll tax and unemployment insurance registrations
- Multi-state payroll and multiple pay schedules
- Downloadable payroll reports for your books
Hiring and team management
You can manage your team and their payroll details in Mercury, including:
- Hiring, pay changes, offboarding, and rehiring
- Offer letters and confidentiality agreements as part of the hiring flow
- Self-onboarding for new hires to enter their own tax and bank details
- A single record for each team member with their personal, employment, and pay details
- Payroll permissions to control who can view and manage payroll
Benefits
Benefits are offered through a licensed broker and include:
- Health, dental, and vision coverage in all 50 states
- Support from a licensed broker to choose a plan, enrol new hires, and manage coverage changes
- 401(k) plans provided via Human Interest and Vestwell**
Once set up, you can view your benefits details from within Mercury Payroll.
Tax and compliance support
Mercury Payroll helps manage tax and compliance requirements associated with employing people in all 50 states, including:
- Filing and remitting federal and state payroll taxes
- Preparing year-end W-2s and 1099s
- Creating accounts with state unemployment and revenue departments
- Identifying requirements when you hire in a new state, including workers’ compensation coverage, and helping set them up
- Triaging the notices states send you and handle workers' compensation and benefits audits
Pricing
Mercury Payroll costs a monthly platform fee plus a monthly rate for each person you pay, with no annual contract. For current pricing, see Mercury Payroll pricing.
Note: You would still be responsible for government fees and taxes that will be passed on to you as well as costs incurred for workers compensation, insurance, and benefits provided by third parties.
FAQs
Do I need a Mercury account to use Mercury Payroll?
Yes. You need Mercury banking*** to access and use Mercury Payroll. Payroll runs directly from your Mercury account, so there’s no separate payroll login or need to transfer payroll funds to an outside provider before payday.
During onboarding, you’ll confirm information Mercury has on file, including your EIN, legal entity details, and account information.
Please confirm this information is current and accurate during onboarding to help prevent downstream filing issues, particularly if your legal name, address, EIN, or entity type has changed.
What do I need to run payroll?
Before you can run payroll, you’ll need:
- An admin who can sign on behalf of the company: Your company signatory must complete setup and tax authorizations
- A Mercury Business account: Payroll is funded from a Mercury account; external bank accounts aren’t supported
- An EIN: Your EIN must be issued before you can set up payroll
- Up-to-date business information: Confirm that your business ownership, legal entity, and address information is accurate in your Payroll Settings. Inaccurate information can cause issues with payroll setup and tax filings
Can I connect Mercury Payroll to a non-Mercury account?
No. Mercury Payroll can only be used with your Mercury account. You can’t connect an external or non-Mercury bank account to fund payroll.
Can I run payroll in multiple states?
Yes. Mercury Payroll includes multi-state payroll in your subscription and can help with state payroll tax and unemployment insurance registrations when you hire in a new state.
Does Mercury Payroll support contractors?
Yes. Mercury Payroll supports W-2 team members and domestic contractors, including year-end W-2s and 1099s. International contractors aren’t supported yet. Until international contractor support is available, you can pay them directly from your Mercury account outside of Payroll.
How do I get started with Mercury Payroll?
To get started with Mercury Payroll, log in to Mercury on web and select Payroll from the left-hand product switcher. You can also get started here. Our team will reach out to learn about your payroll needs and walk you through setup.
*Mercury Payroll helps businesses manage payroll and related administrative tasks. Mercury does not provide legal, tax, accounting, or investment advice and does not act as your employer, professional employer organization (PEO), employer of record (EOR), or plan fiduciary. You remain responsible for your legal and regulatory obligations, including worker classification, wage-and-hour requirements, tax withholding and reporting, and benefits eligibility.
**401(k) services are provided by Human Interest and subject to Human Interest's applicable terms, eligibility requirements, and plan documents. Human Interest is not affiliated with Mercury or Central except as a service provider.
***Mercury is a fintech company, not an FDIC-insured bank. Banking services provided through Choice Financial Group and Column N.A., Members FDIC.