Question

A high school student working part-time as a pizza delivery man had a gross income of 6324 last year. If his federal tax rate was 10% and his state tax rate was 4.2% what was the amount withheld from his pay last year in fenderal tax, state tax, and FICA combined

Answer 1

$1381.79 is the answer

Answer 2

$1381.79 withheld from his pay last year.

Explanation:

A student working as a pizza delivery man and earned = $6324.00

first we calculate all the taxes at the given tax rates

Federal Tax Rate = 10% of 6324.00

= 0.10 × 6324 = $632.40

State Tax Rate = 4.2% of 6324.00

= 0.042 × 6324 = $265.608

FICA is comprised of taxes for social security and medicare. For social security tax rate is 6.2% and for medicare tax rate is 1.45% which add up to 7.65%.

FICA combined Tax Rate = 7.65% of 6324.00

= 0.0765 × 6324 = $483.786

Now we add all the taxes to get what amount withheld from his pay

= 632.40 + 265.608 + 483.786 = $1381.79

$1381.79 withheld from his pay last year.