1. Total = 0.06 * 16250 + 12 * 81.50 + 12 * 55 = 975 + 978 + 660 = 2613.
2. Answer:b.
3. 0.03 * 12800/12 = 32 / mo.
4. Tax = 0.04 * 20490 / 26 = 31.52.
I don't know how much to allow for the exemptions.
=a.)$2,613
b.)$1,625
c.)$815.50
2.)Maribel's city imposes a tax that is 40% of the state tax she pays. Her taxable income is $198.50 per week. Her state imposes tax at a rate of 5%. How much state and local tax is withheld from her weekly pay?
a.)$19.80 state; $7.92 city =b.)$9.93 state; $3.97 city
c.)$99.25 state; $39.77 city
3.)William Bennett earns $12,800 per year. He is paid 12 times per year and claims 1 exemption. His state taxes him at a 3% rate. How much tax is withheld per pay period?
a.)$128
b.)$12.80
=c.)$30
4.)Henry Fordman earns $20,490 per year. He is paid 26 times per year and claims 4 exemptions. His city taxes him at a rate of 4%. How much tax is withheld per pay period?
=a.)$26.60
b.)$20.49
c.)$200.49
2. Answer:b.
3. 0.03 * 12800/12 = 32 / mo.
4. Tax = 0.04 * 20490 / 26 = 31.52.
I don't know how much to allow for the exemptions.
3.)William Bennett earns $12,800 per year. He is paid 12 times per year and claims 1 exemption. His state taxes him at a 3% rate. How much tax is withheld per pay period?
a.)$128
b.)$12.80
c.)$30 -- correct answer --
1*800=800
12800-800=12000
12000*0.03=360
360/12=30
4.)Henry Fordman earns $20,490 per year. He is paid 26 times per year and claims 4 exemptions. His city taxes him at a rate of 4%. How much tax is withheld per pay period?
a.)$26.60 -- correct answer --
b.)$20.49
c.)$200.49
4*800=3200
20490-3200=17290
17290*0.04=691.6
691.6/26=26.6
- Deductions from earnings: Jenna pays 6% of her earnings to her pension fund, which is 0.06 * $16,250 = $975.
- Health insurance deduction: Jenna pays $81.50 per month for health insurance. To find the annual cost, we multiply this amount by 12: $81.50 * 12 = $978.
- Savings deduction: Jenna has $55 taken from her monthly paycheck for savings. Again, we multiply this amount by 12 to find the annual cost: $55 * 12 = $660.
Now, we add up all the deductions: $975 + $978 + $660 = $2,613.
Therefore, Jenna's total deductions for the year are $2,613.
Answer: a.) $2,613
2.) To calculate Maribel's state and city tax withholdings, we need to find the amounts based on her taxable income and the tax rates.
- State tax: Maribel's taxable income is $198.50 per week, and the state tax rate is 5%. So, the state tax withheld per week is 0.05 * $198.50 = $9.93.
- City tax: The city tax is 40% of the state tax. We can find the amount by multiplying the state tax per week by 0.4: $9.93 * 0.4 = $3.97.
Therefore, Maribel's state tax withheld per week is $9.93, and her city tax withheld per week is $3.97.
Answer: b.) $9.93 state; $3.97 city
3.) To find the amount of tax withheld per pay period for William, we need to calculate it based on his annual salary, the number of pay periods, and the tax rate.
- Annual tax: William earns $12,800 per year, and the state taxes him at a rate of 3%. So, his annual tax is 0.03 * $12,800 = $384.
- Pay periods: William is paid 12 times per year, so the tax withheld per pay period is $384 / 12 = $32.
Therefore, William's tax withheld per pay period is $32.
Answer: c.) $32
4.) To calculate the amount of tax withheld per pay period for Henry, we need to consider his annual salary, the number of pay periods, and the tax rate.
- Annual tax: Henry earns $20,490 per year, and the city taxes him at a rate of 4%. So, his annual tax is 0.04 * $20,490 = $819.60.
- Pay periods: Henry is paid 26 times per year, so the tax withheld per pay period is $819.60 / 26 = $31.52 (rounded to two decimal places).
Therefore, Henry's tax withheld per pay period is $31.52.
Answer: a.) $31.52