7. cooper: annual wages = $42,500. single, 2 dependents. paid bi - weekly. the graduated tax scale is as…

7. cooper: annual wages = $42,500. single, 2 dependents. paid bi - weekly. the graduated tax scale is as below. # of people = 3 → exemption = 3×2000 = 6000 tw = 42,500 - 6000 = 36,500 first $1000 × 1.5% = 15 + next $2000 × 3% = 60+ next $2000 × 4.5% = 90+ over $5000 5% = 1575+ 36,500 - 5000 = 31,500 annual sit = 1740 find coopers employer withholding from each of his paychecks. paycheck sit = annual sit ÷ ppv = 1740 ÷ 26 = 66.92 notes: taxable wage = annual gross pay - exemptions annual state income tax = taxable wage × state tax rate 8. joanna: annual wages = $24,900. married, 1 dependent. paid semi - monthly. the graduated tax scale is as below first $1000 1.5% next $2000 3% next $2000 4.5% over $5000 5% what does joannas employer withhold from each of her paychecks? notes: some as #7

7. cooper: annual wages = $42,500. single, 2 dependents. paid bi - weekly. the graduated tax scale is as below. # of people = 3 → exemption = 3×2000 = 6000 tw = 42,500 - 6000 = 36,500 first $1000 × 1.5% = 15 + next $2000 × 3% = 60+ next $2000 × 4.5% = 90+ over $5000 5% = 1575+ 36,500 - 5000 = 31,500 annual sit = 1740 find coopers employer withholding from each of his paychecks. paycheck sit = annual sit ÷ ppv = 1740 ÷ 26 = 66.92 notes: taxable wage = annual gross pay - exemptions annual state income tax = taxable wage × state tax rate 8. joanna: annual wages = $24,900. married, 1 dependent. paid semi - monthly. the graduated tax scale is as below first $1000 1.5% next $2000 3% next $2000 4.5% over $5000 5% what does joannas employer withhold from each of her paychecks? notes: some as #7

Answer

Explanation:

Step1: Calculate taxable wage

Assume no exemptions are mentioned for Joanna, so Taxable Wage = Annual Wages = $24900$.

Step2: Calculate tax for each bracket

For the first $1000$: $1000\times1.5%=1000\times0.015 = 15$. For the next $2000$: $2000\times3%=2000\times0.03 = 60$. For the next $2000$: $2000\times4.5%=2000\times0.045 = 90$. The amount over $5000$ is $24900 - 5000=19900$, and the tax for this part is $19900\times5%=19900\times0.05 = 995$.

Step3: Calculate annual state - income tax

Annual State Income Tax = $15 + 60+90 + 995=1160$.

Step4: Calculate paycheck state - income tax

Joanna is paid semi - monthly, so the number of paychecks per year (PPY) is $24$. Paycheck State Income Tax = $\frac{1160}{24}\approx48.33$.

Answer:

$48.33$