contestada

Mona Elliott’s gross pay is $33,500 a year. The state income tax rate is 3 percent of taxable wages. Elliott takes a single exemption for herself. Using Figure 2.1, how much is withheld a year for state income tax?

Respuesta :

Answer: $960

Explanation:

Mona Elliott’s gross pay = $33,500

State income tax rate = 3%

Single exemption = $1500

The amount that'll be withheld a year for state income tax will be calculated as:

= Tax rate × (Gross pay - Single exemption)

= 3% × ($33500 - $1500)

= 3% × ($32,000)

= 3/100 × $32,000

= 0.03 × $32,000

= $960

Otras preguntas