LO 5-4 Fannons Chocolate Factory operates in North Carolina. Calculate the state income tax for each employee
Question:
LO 5-4 Fannon’s Chocolate Factory operates in North Carolina. Calculate the state income tax for each employee using the state income tax rate of 4.75 percent.
Assume that no pre-tax deductions exist for any employee.
Employee Amount per Pay Period North Carolina Income Tax K. Jamieson $ 550 D. Macranie 4,895 G. Lockhart 3,225 K. McIntyre 1,795 P5-9A.
LO 5-2 Using the percentage method for manual payroll with W-4s from 2020 or later in Appendix C, calculate the federal withholding amounts for the following employees. No information was included in Step 4 of the W-4, and no box was checked in Step 2.
Employee Filing Status Dependents Pay Frequency Amount per Pay Period Federal Income Tax S. Calder MJ 3 < 17 Monthly $10,000 P. Singh HH 1 < 17 Biweekly 3,300 B. Nelson MJ None Daily 500
Step by Step Answer:
Payroll Accounting 2024
ISBN: 9781266832352
10th International Edition
Authors: Jeanette Landin, Paulette Schirmer