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1. You are a physical therapist. You earn $62,400 a year, single with 1 dependent. The state income tax rate is 4.9% of taxable income.
1. You are a physical therapist. You earn $62,400 a year, single with 1 dependent. The state income tax rate is 4.9% of taxable income. What amount is withheld from your BIWEEKLY pay for state income tax? (use the 2020 exemptions)
Exemptions (2020) Single-$12,400. Married(separately)-$12,400. Married jointly)- $24,800. Each dependent - $4,300 Graduated State Income Tax Table (2020) First $5,500: 1.7% Next $5,500: 3.2% Next $11,000: 4.7% Over $16,500: 4.9% Exemptions (2020) Single-$12,400. Married(separately)-$12,400. Married jointly)- $24,800. Each dependent - $4,300 Graduated State Income Tax Table (2020) First $5,500: 1.7% Next $5,500: 3.2% Next $11,000: 4.7% Over $16,500: 4.9%Step by Step Solution
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