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balandron [24]
3 years ago
10

Joe Bob is an employee of Rollo Corporation who receives a salary of $14,900 per month. Each month, Joe Bob has $2,740 in federa

l income tax and $880 in state income tax withheld from his salary. The OASDI rate is 6.2%; the MHI rate is 1.45%. Joe Bob's take-home pay in the following months is:
Business
1 answer:
SOVA2 [1]3 years ago
5 0

Answer:

$10,427

Explanation:

With a total salary of $14,900, each month an amount is withheld in income tax and state tax of $2,740 and $880.

Hence the amount left after taxes is $11,280.

Now deducting the 6.2% and the 1.45% from the $11,280, Joe is only left with $10,427 as his salary.

Thank You.

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