Question

grayson lives and works in Indiana, which has a flat state income tax of 3.4% If his annual salary is %49,255 and he get paid once a month, how much is withheld from is gross income for state income tax each pay period?

Answer 1

139.56

Step-by-step explanation:

The flat tax rate is at 3.4 %, which is 0.034

Grayson earns $49,255 but is paid monthly. His monthly is $49,255 divided by 12

=$49,255 / 12

=$4,104.5833

The tax per period will be 3.4% or 0.034 of $4,104.5833

=0.034 x $4, 104.58

=$139.55583

=$139.56