Single person (including head of household) If amount of wages (after subtracting withholding allowance) is: The amount of income tax withholding is: Not over $43 $0 Over– But not over– of excess over– $43 –$222.......$0.00 plus 10% –$43 $222 –$767.......$17.90 plus 15% –$222 $767 –$1,796....$99.65 plus 25% –$767 $1,796 –$3,700....$356.90 plus 28% –$1,796 $3,700 –$7,992....$890.02 plus 33% –$3,700 $7,992 –$8,025....$2,306.38 plus 35% –$7,992 $8,025 .................$2,317.93 plus 39.6% –$8,025 Using an $80 value for each exemption and the tax rate schedule above, what is Woods' federal income tax withholding? Round your answer to two decimal places.
Single person (including head of household) If amount of wages (after subtracting withholding allowance) is: The amount of income tax withholding is: Not over $43 $0 Over– But not over– of excess over– $43 –$222.......$0.00 plus 10% –$43 $222 –$767.......$17.90 plus 15% –$222 $767 –$1,796....$99.65 plus 25% –$767 $1,796 –$3,700....$356.90 plus 28% –$1,796 $3,700 –$7,992....$890.02 plus 33% –$3,700 $7,992 –$8,025....$2,306.38 plus 35% –$7,992 $8,025 .................$2,317.93 plus 39.6% –$8,025 Using an $80 value for each exemption and the tax rate schedule above, what is Woods' federal income tax withholding? Round your answer to two decimal places.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Single person (including head of household)
| If amount of wages (after subtracting withholding allowance) is: | The amount of income tax withholding is: | ||
| Not over $43 | $0 |
|
Over–
|
But not over–
|
of excess over–
|
| $43 | –$222.......$0.00 plus 10% | –$43 |
| $222 | –$767.......$17.90 plus 15% | –$222 |
| $767 | –$1,796....$99.65 plus 25% | –$767 |
| $1,796 | –$3,700....$356.90 plus 28% | –$1,796 |
| $3,700 | –$7,992....$890.02 plus 33% | –$3,700 |
| $7,992 | –$8,025....$2,306.38 plus 35% | –$7,992 |
| $8,025 | .................$2,317.93 plus 39.6% | –$8,025 |
Using an $80 value for each exemption and the tax rate schedule above, what is Woods' federal income tax withholding? Round your answer to two decimal places.
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