Damerly Company (a Utah employer) wants to give a holiday bonus check of $250 to each employee.
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Damerly Company (a Utah employer) wants to give a holiday bonus check of $250 to each employee. Since it wants the check amount to be $250, it will need to gross-up the amount of the bonus. Calculate the withholding taxes and the gross amount of the bonus to be made to John Rolen if his cumulative earnings for the year are $46,910. Besides being subject to social security taxes and federal income tax (supplemental rate), a 5.0% Utah income tax must be withheld on supplemental payments............................ $____________
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2501 03765 25006235 40096 Gross bonus amount 40096 Federal income tax with...View the full answer
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