Makenzie lives and works in Colorado, which has a flat state income tax of 4.63%. If her annual salary is $57,835 and if she gets paid once a month, how much is withheld from her gross income for state income tax each pay period?

Respuesta :

Answer:

$223.15.

Step-by-step explanation:

We have been given that Makenzie lives and works in Colorado, which has a flat state income tax of 4.63%. Her annual salary is $57,835 and she gets paid once a month.

Let us find the amount of state income tax paid by Makenzie per year.

[tex]\text{Amount of state income tax paid by Makenzie per year}=\frac{4.63}{100}\times \$57,835[/tex]

[tex]\text{Amount of state income tax paid by Makenzie per year}=0.0463\times \$57,835[/tex]

[tex]\text{Amount of state income tax paid by Makenzie per year}=\$2677.7605[/tex]

Let us find monthly amount of state income tax paid by Makenzie by dividing annual tax amount by 12.

[tex]\text{Amount of state income tax paid by Makenzie per month}=\frac{\$2677.7605}{12}[/tex]

[tex]\text{Amount of state income tax paid by Makenzie per month}=\$223.146708\approx \$223.15[/tex]

Therefore, approximately $223.15 is held from Makenzie's gross income for state income tax each pay period.