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Joe Bob is an employee of Rollo Corporation who receives a salary of $14,100 per month. Each month, Joe Bob has $2,710 in federal income
Joe Bob is an employee of Rollo Corporation who receives a salary of $14,100 per month. Each month, Joe Bob has $2,710 in federal income tax and $950 in state income tax withheld from his salary. The OASDI rate is 6.2%; the MHI rate is 1.45%. Joe Bob's take-home pay in the following months is: (Hint: OASDI 6.2% tax is on the first $128,400 for the year.) Round calculations to the nearest dollar. a. March 1,079 x b. November Feedback Check My Work An employee's discretionary income or net pay is money net of taxes and other employer deductions (for example, 401(k contributions or health benefit program payments). Employer's must calculate the taxes to be withheld and remit, along portion, to the federal government
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