Using the following graduated income tax rates, find the tax withheld per pay period. State Tax Rate Annual Income Earned 2.75% 3.25% First $10,000 Next $15,000 Over $25,000 5.00% 1. Annual salary: $38,550; personal exemptions: $4,400; paid biweekly. 2. Annual salary: $47,425; personal exemptions: $3,000; paid weekly. 3. Annual salary: $29,149; personal exemptions: $2,200; paid monthly. 4. Annual salary: $24,872; personal exemptions: $1,500; paid semimonthly.
Using the following graduated income tax rates, find the tax withheld per pay period. State Tax Rate Annual Income Earned 2.75% 3.25% First $10,000 Next $15,000 Over $25,000 5.00% 1. Annual salary: $38,550; personal exemptions: $4,400; paid biweekly. 2. Annual salary: $47,425; personal exemptions: $3,000; paid weekly. 3. Annual salary: $29,149; personal exemptions: $2,200; paid monthly. 4. Annual salary: $24,872; personal exemptions: $1,500; paid semimonthly.
Chapter26: Tax Practice And Ethics
Section: Chapter Questions
Problem 31P
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