Question

Consider a job that pays $100,00 per year federal income tax is 19% and state income tax is 7% what is the annual total of the required deductions of federal and state income tax

Answer 1

Answer:

Annual total of deduction of Federal Tax = $ 1900

 Annual total of deduction of State Tax = $ 700

Step-by-step explanation:

Given as ,

Salary paid by the company =$100,00 per year

The federal income tax per year applicable = 19%

The state income tax per year applicable = 7%

So, Federal income tax = 19% of $10000 = $(\frac{19 \times 10000}{100})$ = $ 1900

And State income tax = 7% of $10000 = $(\frac{7 \times 10000}{100})$

                                                               = $ 700

So, The total Salary receive after tax deduction = ($100,00) - ($1900 +$700 )

                                                                               = $7400

Hence Annual total of deduction of Federal Tax = $ 1900

            Annual total of deduction of State Tax = $ 700  Answer