Will Brown, who pays weekly union dues of $3.00, earns $289 per week. His federal income tax is $39.13 and his FICA tax is 6.2%He pays a 4% state income taxa $ 15.00 annual city tax, and 2 % of his pay to his retirement fund. What's his net income for the week he pays the city tax?
Earnings = $289
Union dues =$3
Fed. [ Income Tax = $39.13
FICA = $17.92 (6.2% of $289 = 0.062 x $289 = $17.92)
State Income tax = $11.56 (4% of $289 = 0.04 x $289 = $11.56)
City tax = $15.00
Retirement fund = $5.78 (2% of $289 = 0.02 x $289 = $5.78)
Net Income = $196.61 ]
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Asked 1/27/2022 11:44:21 PM
Updated 325 days ago|3/3/2024 6:00:08 PM
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