Question

Derek Schwartz's annual salary is $47,300. He is paid monthly. His personal exemptions total $2,000, and his state taxes income at 3%. How much does his employer deduct from each of Schwartz's paychecks for state income tax?

Answer 1

Schwartz's employer will deduct $1,419 from each of his paychecks for state income tax.

Step-by-step explanation:

To calculate Schwartz's state income tax deduction, we need to find 3% of his annual salary.

First, we calculate the annual state income tax deduction by multiplying his annual salary of $47,300 by the state tax rate of 3%.

Annual state income tax deduction = $47,300 * 0.03 = $1,419

Therefore, Schwartz's employer will deduct $1,419 from each of his paychecks for state income tax.