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4. Kelly Waxman's annual salary is $30,000. She takes a married exemption.
Using the graduated income tax rates below, find the annual state tax
withheld. (Section 2-3) Personal Exemptions: Single - $1,500, Married -
$3000, Each Dependent - $750. State Tax: Annual Gross Pay - First $3,500
is 3%, Next $3500 is 4.%, Over $7000 is 7%. *
O a. $1,877.21
O b. $2,159.85
O
c. $1,877.90
O d. $1,662.50

Respuesta :

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The annual state tax witheld from Kelly Waxman's annual salary of 30,000 if she takes a married exemption is $1662.50

  • Personal exemption (Married) = $3000
  • Annual salary = $30,000

  • Taxable income = Annual salary - Exemption
  • Taxable income = $30,000 - $3,000 = $27,000

State tax withheld :

  • First $3500 = 0.03 × 3500 = $105.00
  • Next $3500 = 0.045 × 3500 = $157.50
  • Over $7000 = 0.07 × (27000 - (3500+3500)) = 0.07 × 20,000 = $1400

  • Total state tax witheld = $(105 + 157.50 + 1400) = $1662.50

Therefore, Kelly Waxman's annual state tax withheld is $1662.50

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