5. aziz works as a bookkeeper and earns $685 weekly. he is single, claims zero withholdings, and lives in a…
5. aziz works as a bookkeeper and earns $685 weekly. he is single, claims zero withholdings, and lives in a state with a flat - rate state income tax of 3.07%. determine aziz’s net pay.
Answer
Explanation:
Step1: Calculate state income tax amount
The state - income tax rate is $3.07%=0.0307$, and the weekly income is $685$. The state - income tax amount $T$ is calculated by multiplying the income by the tax rate. So $T = 685\times0.0307$. $T=685\times0.0307 = 20.9295$.
Step2: Calculate net pay
Net pay $N$ is the gross pay minus the state - income tax amount. So $N=685 - 20.9295$. $N = 664.0705\approx664.07$.
Answer:
$664.07$