Assume a tax rate of 6.2% on $118,500 for Social Security and 1.45% for Medicare. No one will reach the maximum for FICA. Complete the following payroll register. (Use the percentage method to calculate FIT for this weekly period.) (percentage method tax withholding weekly is $76.90 and use Table 9.2). (Do not round intermediate calculations and round your final answers to the nearest cent.)
FICA
Employee
Marital status
Allowances claimed
Gross pay
FIT _______
S.S. $167.40
Med. $39.15
Net pay _________
Pat Brown
M
4
$2,700
TABLE 9.2 Percentage method income tax withholding schedules Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period -$44 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.......... $0 Not over $165 . . . . ., SO Over But not over- of excess over-Over- But not over- of excess over- $44 -$222 . . $0.00 plus 10% $165 -$520 .. $0.00 plus 10% -$165 $222 -$764 . . $17.80 plus 15% -$222 $520 -$1,606 .. $35.50 plus 15% -$520 $764 -$1,789 .. $99.10 plus 25% -$764 $1,606 -$3,073 . . $198.40 plus 25% -$1,606 $1,789 -$3,685 .. $355.35 plus 28% -$1,789 $3,073 -$4,597 .. $565.15 plus 28% - $3,073 $3,685 -$7.958 . . $886.23 plus 33% -$3,685 $4,597 -$8,079. . $991.87 plus 33% -$4,597 $7.958 -$7,990 .. $2.296.32 plus 35% -$7,958 $8,079 -$9,105 . . $2,140.93 plus 35% --$8,079 $7,990............ $2.307.52 plus 39.6% -$7,990 $9,105 . . . . . . . . . . . . $2,500.03 plus 39.6% -$9,105 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88 .......... $0 Not over $331 ......... $0 Over But not over- of excess over-Over- But not over- of excess over- $88 -$443 . $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 -$1,529 . $35.50 plus 15% -$443 $1,040 -$3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 . $198.40 plus 25% -$1,529 $3,212 $6,146 .. $396.70 plus 25% -$3,212 $3,579 $7,369 . . $710.90 plus 28% -$3,579 $6,146 -$9,194.. $1,130.20 plus 28% $9.194 -$6,146 $7,369 -$15,915 . . $1.772.10 plus 33% -$7,369 $9,194 $16,158 . . $1,983.64 plus 33% -$9,194 -$15,981 .. $4,592.28 plus 35% -$15,915 $16,158 -$18,210.. $4,281.76 plus 35% _$16.158 $15,981 ... : $4,615.38 plus 39.6% -$15,981 $18,210.. ... $4,999.96 plus 39.6% -$18,210 TABLE 3-SEMIMONTHLY Payroll Period -$96 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... $0 Not over $358 ....... $0 Over But not over- of excess over-Over- But not over- of excess over- $96 -$480 . . $0.00 plus 10% $358 -$1,127 .. $0.00 plus 10% -$358 $480 -$1,656 . . $38.40 plus 15% -$480 $1,127 -$3,479 .. $76.90 plus 15% -$1,127 $1,656 -$3,877 . . $214.80 plus 25% -$1,656 $3,479 - $6,658 .. $429.70 plus 25% -$3,479 $3,877 -$7,983 . $770.05 plus 28% -$3,877 $6,658 -$9,960 . . $1,224.45 plus 28% -$6,658 $7,983 $ 17,242.. $1.919.73 plus 33% -$7,983 $9,900 $ 17,504 .. $2,149.01 plus 33% -$9,960 $17,242 -$17,313 .. $4.975.20 plus 35% -$17,242 $17,504 -$19,727 .. $4,638.53 plus 35% _$17,504 $17,313............ $5.000.05 plus 39.6% -$17,313 $19,727 ........... $5,416.58 plus 39.6% $19,727 TABLE 4MONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192 $0 Not over $717 LLLLL $0 Over- But not over- of excess over-Over- But not over- of excess over- $192 $960 .. $0.00 plus 10% -$192 $717 $717 - $2,254 .. $0.00 plus 10% 52 25 - $717 $960 -$3,313 .. $76.80 plus 15% -$960 $2,254 $6,958 .. $153.70 plus 15% -$2,254 $3,313 - $7,754 .. $429.75 plus 25% - $3,313 $6,958 $13,317 .. $859.30 plus 25% -$6,958 $7,754 -$15,967 . . $1.540.00 plus 28% - $7,754 $13,317 $19,921 .. $2,449.05 plus 28% -$13,317 $15,967 -$34,483 .. $3.839.64 plus 33% -$15,967 $19,921 $35,008 . . $4,298.17 plus 33% -$19,921 $34,483 -$34,625 $9.949.92 plus 35% -$34,483 $35,008 - $39,454 .. $9,276.88 plus 35% -$35,008 $34,625 ............ $9.999.62 plus 39.6% -$34,625 $39,454 . . . . . . . . . . . . $10,832.98 plus 39.6% -$39,454 TABLE 9.2 Percentage method income tax withholding schedules Percentage Method Tables for Income Tax Withholding TABLE 1-WEEKLY Payroll Period -$44 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $44.......... $0 Not over $165 . . . . ., SO Over But not over- of excess over-Over- But not over- of excess over- $44 -$222 . . $0.00 plus 10% $165 -$520 .. $0.00 plus 10% -$165 $222 -$764 . . $17.80 plus 15% -$222 $520 -$1,606 .. $35.50 plus 15% -$520 $764 -$1,789 .. $99.10 plus 25% -$764 $1,606 -$3,073 . . $198.40 plus 25% -$1,606 $1,789 -$3,685 .. $355.35 plus 28% -$1,789 $3,073 -$4,597 .. $565.15 plus 28% - $3,073 $3,685 -$7.958 . . $886.23 plus 33% -$3,685 $4,597 -$8,079. . $991.87 plus 33% -$4,597 $7.958 -$7,990 .. $2.296.32 plus 35% -$7,958 $8,079 -$9,105 . . $2,140.93 plus 35% --$8,079 $7,990............ $2.307.52 plus 39.6% -$7,990 $9,105 . . . . . . . . . . . . $2,500.03 plus 39.6% -$9,105 TABLE 2-BIWEEKLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $88 .......... $0 Not over $331 ......... $0 Over But not over- of excess over-Over- But not over- of excess over- $88 -$443 . $0.00 plus 10% -$88 $331 -$1,040 .. $0.00 plus 10% -$331 -$1,529 . $35.50 plus 15% -$443 $1,040 -$3,212 .. $70.90 plus 15% -$1,040 $1,529 -$3,579 . $198.40 plus 25% -$1,529 $3,212 $6,146 .. $396.70 plus 25% -$3,212 $3,579 $7,369 . . $710.90 plus 28% -$3,579 $6,146 -$9,194.. $1,130.20 plus 28% $9.194 -$6,146 $7,369 -$15,915 . . $1.772.10 plus 33% -$7,369 $9,194 $16,158 . . $1,983.64 plus 33% -$9,194 -$15,981 .. $4,592.28 plus 35% -$15,915 $16,158 -$18,210.. $4,281.76 plus 35% _$16.158 $15,981 ... : $4,615.38 plus 39.6% -$15,981 $18,210.. ... $4,999.96 plus 39.6% -$18,210 TABLE 3-SEMIMONTHLY Payroll Period -$96 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $96.......... $0 Not over $358 ....... $0 Over But not over- of excess over-Over- But not over- of excess over- $96 -$480 . . $0.00 plus 10% $358 -$1,127 .. $0.00 plus 10% -$358 $480 -$1,656 . . $38.40 plus 15% -$480 $1,127 -$3,479 .. $76.90 plus 15% -$1,127 $1,656 -$3,877 . . $214.80 plus 25% -$1,656 $3,479 - $6,658 .. $429.70 plus 25% -$3,479 $3,877 -$7,983 . $770.05 plus 28% -$3,877 $6,658 -$9,960 . . $1,224.45 plus 28% -$6,658 $7,983 $ 17,242.. $1.919.73 plus 33% -$7,983 $9,900 $ 17,504 .. $2,149.01 plus 33% -$9,960 $17,242 -$17,313 .. $4.975.20 plus 35% -$17,242 $17,504 -$19,727 .. $4,638.53 plus 35% _$17,504 $17,313............ $5.000.05 plus 39.6% -$17,313 $19,727 ........... $5,416.58 plus 39.6% $19,727 TABLE 4MONTHLY Payroll Period (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages If the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is: to withhold is: withholding allowances) is: to withhold is: Not over $192 $0 Not over $717 LLLLL $0 Over- But not over- of excess over-Over- But not over- of excess over- $192 $960 .. $0.00 plus 10% -$192 $717 $717 - $2,254 .. $0.00 plus 10% 52 25 - $717 $960 -$3,313 .. $76.80 plus 15% -$960 $2,254 $6,958 .. $153.70 plus 15% -$2,254 $3,313 - $7,754 .. $429.75 plus 25% - $3,313 $6,958 $13,317 .. $859.30 plus 25% -$6,958 $7,754 -$15,967 . . $1.540.00 plus 28% - $7,754 $13,317 $19,921 .. $2,449.05 plus 28% -$13,317 $15,967 -$34,483 .. $3.839.64 plus 33% -$15,967 $19,921 $35,008 . . $4,298.17 plus 33% -$19,921 $34,483 -$34,625 $9.949.92 plus 35% -$34,483 $35,008 - $39,454 .. $9,276.88 plus 35% -$35,008 $34,625 ............ $9.999.62 plus 39.6% -$34,625 $39,454 . . . . . . . . . . . . $10,832.98 plus 39.6% -$39,454
