dale young is a physical therapist. he earns $49,830 a year and is single. the state income tax rate is 5…

dale young is a physical therapist. he earns $49,830 a year and is single. the state income tax rate is 5 percent of taxable income. what amount is withheld yearly for state income tax?

dale young is a physical therapist. he earns $49,830 a year and is single. the state income tax rate is 5 percent of taxable income. what amount is withheld yearly for state income tax?

Answer

Explanation:

Step1: Identify the tax - rate and income

The tax rate is 5% or 0.05 in decimal form, and the taxable income is $49,830.

Step2: Calculate the tax amount

Multiply the taxable income by the tax rate. So, the tax amount $A = 49830\times0.05$. $A = 2491.5$

Answer:

$2491.5$