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Question:
Karen Smith has gross earnings of $9,512.15 monthly. She is single and has 3 withholding allowances.
a ) $7,300.33
b ) $7,108.81
c ) $6,937.47
d ) $8,028.01
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Question 3 7 pts Use the percentage method of withholding to find the federal withholding tax, a 6.2% FICA rate to find the FICA tax, and 1.45% to find the Medicare tax. Then find the net pay for the employee. Assume that the employee has not earned over $128,400 so far this year. Payroll Period Wookly Blweekly Semimonthly Monthly Quarterly Semiannually Annually Daily or miscellaneous (each day of the payroll period) One Withholding Allowance $ 79.80 159.60 172.90 345.80 1,037.50 2,075.00 4,150.00 16.00 Percentage Method Tables for Income Tax Withholding (For Wages Paid in 20xx) TABLE 1-WEEKLY Payroll Period () SINGLE person indung wad of household (b) MARRIED person the amount of wages the amount of wages after subtracting The amount of income tax after subtracting The amount of income tax withholding allowances : to withhold withholding a lowerca to withhold is Not over 571 50 Not over 1222 10 Over- But not over of excess over- Over- But not over of excess over- 571 -5254 10.00 plus 10% -571 1222 -598 50.00 plus 10% -1222 5254 --5815 518 30 plus 12% 254 1588 --$1,711 3660 plus 12% 1588 5815 --$1.658 585.62 plus 229 -$815 51711 -- $3.395 $17138 plus 225 -$1.711 $1,658 --33,100 3271.08 plus 24% --$1,656 59,395 -6,280 35414 plus 24% -13.395 53,100 --53,917 3617.16 plus 32% --$3,100 56.250 ---37,914 39,234 24 325 - 290 33,917 -19,687 1878 60 P 35% -53,917 $7,914 -511,761 $1,757.12 pun -97,914 39.847 1299.10 plus 379. -59,897 511,761 $3,103.57 plus 32% -511,761 TABLE 2-BIWEEKLY Payroll Period In) SINGLE person indung head of household (b) MARIUED person- the amount of wages if the amount of wages after subtracting The amount of income tax her subtracting The amount of income tax withholding a lowances) to withhold: withholding a lowance : to withodis Not our 510 50 Notor 1444 50 Over- But not over of excess over- Over- But not over of excess over- $10 -5509 50.00 plus 10% -$142 5444 -$1,177 10.00 plus 10% --544 5509 -$1.91 336.70 plus 129 --5509 $1,177 --$3,021 573.30 plus 125 -$1,177 51,631 -$3,315 517134 pis 22 -11,631 $1,421 --56790 34 58 plus 224 -01 13,15 -56,200 3541.82 plus 24% - 13,715 56.790 -$12.560 11,083.76 plus 245 --16790 16.200 17,835 31.234 22 plus 32% 16.200 112.900 -5159 12.45856 plus 325 -512.560 57,835 -519373 $1,757.42 plus 35% -57835 515,829 -$23.521 $3.514.64 plus 35 --$15.9 519.373 55.795.72 plus 37% 319.373 $23.521 56,206.84 plus 37% -$23.521 TABLE 3-SEMIMONTHLY Payroll Period GA) SINGLE person Grxcludrg head of household (b) MARRIED person the amount of wages (alter the amount of wages subtracting withholding The amount of income tax Cafter subtracting The amount of income tax allowance is: to withholds withholding allowances) to withhold Not Over $154 50 Nok or $481 50 Over But not over of excess over Over But not over of excess over 5154 -$551 5000 plus 10% -5154 1481 -$1,225 50.00 pks to 5551 -51,767 539.70 pus 12% --5551 51.275 --3,706 579.40 plus 12 -51.27 51,767 -$3.592 $185.02 pus 22% $1,767 53,706 57.356 4/12, 22 33,700 $3.592 -16717 5587.12 plus 245 -53,592 57 356 --$13,606 $1,174.12 plus 24 -57,356 56,717 - 51,337 12 plus 32% -56,217 113.66 -17,148 52,61412 plus 20% -1006 58 R2 -120, $1,803 84 plus 35% -58,4 512101 --$575,451 7 11 plus --$17,148 520,96 56,278 84 plus 37% -120 325,401 57111 plus TABLE 4 MONTHLY Payroll Period (a) SINGLE person Grciuding head of household) (1) MARRIED person- Y the amount of wages of the amount of wages after subtrading The amount of income tax (after subtracting The amount of income tax wthholding a lowances) to withholdi withholding allowance) to withold Not over 10 .50 Not Over 13 10 Over- But not over of excess over-Over- But not over of excess over- 5308 -51,102 50.00 plus 10% -110 5903 -32,550 10.00 plus 10% -30 $1,100 57940 un 12% -$1,100 $2.550 -17,413 $158.70 Ls 12 -$2,550 -7,183 5371.12 22% $7,413 -514,713 $742 26 pun 22 57,413 $7.183 -$13.433 51, 174, 12 plus 245 -57,183 514.712 -527213 12.348.26 plus 24 -$14.713 $13,433 -516,075 52.674.12 plus 329 $13.433 527213 -534296 35.345.26 plus 325 -527213 316,075 --$41,975 $3,207 56 plus 35% ---$16975 134,206 -550,963 17,612 plus 35% -$34.296 141,975 512,552 56 plus 37-541.975 350,993 $13.408 27 pix 37% 113 12 thng --$13,606 58,488 -520,988 $1,903 84 plus 35% --58,412 117,141 125.451 507.11 plus 120.98 56,278 84 plus 37% 520,98 125,481 56,724 11 plus ! -25481 TABLE 4 MONTHLY Payroll Period (a) SINGLE person including head of household) (b) MARRIED person- the amount of wages if the amount of wages Gaur subtracting The amount of income tax Cater subtrading The work of income tax withholding a lowances) is. to withholdis: withholding allowances) is: to withold is Not over 1305 50 Not over 5563 30 Over But not over of excess over Over- But not over of cover 5308 -$1,102 $0.00 plus 10% -5308 5963 ---$2,550 50.00 plus 10% $1,102 -$3,533 579 40 pur 123 51,102 52,550 -17,413 $158.70 plus 12% -52,550 53,533 -57,183 5371.12 plus 224 53,533 $7,413 -$14,713 $742 26 pus 22% -5743 $7.183 -$13.03 $1,174.12 plus 24% ---$7.183 514713 -$27213 ....52.348.26 plus 24% -5140 313,433 $16.975 $2.674.12 plus 324 $13.433 527213 --$34.296 15,345.26 plus 32% -527213 316,975 -$41,975 53,207 56 plis 35% 516,975 334,296 -550.963 57,614.82 plus 35% -4296 $41,975 $12,557 56 plus 32% 141,975 $50,963 $13.448 27 plus 37% -50,163 Karen Smith has gross earnings of S9512.15 monthly. She is single and has 3 withholding allowances. $7300.33 $7108.81 $6937.47 $8028.01
