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DerKrebs [107]
3 years ago
9

A high school student working part-time as a cashier had a gross income of $6727 last year. If his federal tax rate was 10% and

his state tax rate was 4.3%, what was the amount withheld from his pay last year in federal tax, state tax, and FICA combined?
Business
1 answer:
8_murik_8 [283]3 years ago
3 0

Federal tax rate = 10%

State tax rate = 4.3%

Social security = 6.2%

Medicare = 1.45%

Total deductions = 21.95%

Amount withheld = 21.95%*6727 = $1476.58

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