To determine how much money would be left after taxes are taken out of a $440 check for a minor in Michigan, we need to consider the typical deductions that may apply.
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Federal Income Tax: As a minor, if you earn under a certain threshold, you may not be liable for federal income taxes, but this can depend on specific situations, like how much you earn overall for the year.
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State Income Tax: Michigan has a flat state income tax rate of 4.25%.
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FICA Taxes: This includes Social Security and Medicare taxes, which are typically withheld at a rate of 7.65% (6.2% for Social Security and 1.45% for Medicare).
Assuming you do have taxes withheld, the calculations would look like this:
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State Income Tax: \[ 440 \text{ (check)} \times 0.0425 = 18.70 \text{ (state tax)} \]
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FICA Taxes: \[ 440 \text{ (check)} \times 0.0765 = 33.66 \text{ (FICA tax)} \]
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Total Taxes: \[ 18.70 + 33.66 = 52.36 \]
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Net Pay: \[ 440 - 52.36 = 387.64 \]
So, if taxes are taken out of your $440 check, you would have approximately $387.64 left after deductions. However, if you are not required to pay federal income tax, you might not see that deduction, likely resulting in a higher amount left over. Always check with a tax professional or financial advisor for personalized advice.