Question

You are single and support your mom and dad. You earn $56,000 per year. The state income tax rate is 5. 5%. Find the annual tax withheld

Answer 1

Explanation:

To find the annual tax withheld, you would need to calculate the amount of income tax that you owe based on your income and the state income tax rate.

You earn $56,000 per year and the state income tax rate is 5.5%. To find the amount of tax you owe, you would multiply your income by the tax rate.

Tax Owed = Income x Tax Rate

Tax Owed = 56,000 x 0.055

Tax Owed = 3,080

So, the annual tax withheld from your salary would be $3,080.