Answer:
$139.56 is deducted from his gross income for state income tax each pay period .
Step-by-step explanation:
As given
Grayson lives and works in Indiana, which has a flat state income tax of 3.4%. If his annual salary is $49,255 and he gets paid once a month .
3.4 % is written in the decimal form.
[tex]= \frac{3.4}{100}[/tex]
= 0.034
Income tax price = 0.034 × Annual salary
= 0.034 × 49255
= $1674.67
As 1 year is consist of 12 months .
Thus
[tex]Income\ tax\ paid\ in\ one\ month = \frac{1674.67}{12}[/tex]
= $139.56 (Approx)
Therefore $139.56 is deducted from his gross income for state income tax each pay period .
