Question

The gross income of Ginger Hughes is $215 per week. Her deductions are: $15.16, FICA tax; $29.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income

Answer 1

$157.61 is her net income.

Explanation:

$215.00 - ($15.16 + $29.33 + $215.00[2% + 1% + 3%]); $215.00 - ($44.49 + $215.00[6%]); $215.00 - ($44.49 + $12.90) $215.00 - $57.39 = $157.61.

Answer 2

$15.16, FICA tax
$29.33, income tax
2% state tax = 215 x 0.02=$4.3
1% city tax = 215 x 0.01 = $2.15
3% retirement fund = 215 x 0.03 = $6.45

$15.16 + $29.33 + $4.3 + $2.15 + $6.45 = $57.39

$215 -$57.39 =$157.61

net income = $157.61