Question

1 point

Hussein had federal taxable income of $31,500. He pays state income tax
rate of 3.5% of his federal taxable income. Find his state income tax for that
year.
$1,102.50
$1,135.40
$1.245.70
$1,290.80

Answer 1

Using the given state income tax rate of 3.5%, Hussein's state income tax for the year on a federal taxable income of $31,500 would be $1,102.50.

Step-by-step explanation:

Hussein has a federal taxable income of $31,500. To calculate his state income tax, which is 3.5% of his federal taxable income, we use the formula: state income tax = taxable income × state tax rate. Therefore, Hussein's state income tax would be calculated as follows:

State income tax = $31,500 × 3.5% = $31,500 × 0.035 = $1,102.50.

Thus, Hussein's state income tax for that year would be $1,102.50.