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Only need help figuring out the federal income withholding please. thank you CPP 3-1 (#1) Calculate and Document Federal & State Income Tax Withholding Calculate
Only need help figuring out the federal income withholding please. thank you
CPP 3-1 (#1) Calculate and Document Federal & State Income Tax Withholding Calculate federal and state income tax withholding for a number of employees of TCLH Industries, a manufacturer of cleaning products. Use the wage bracket method when it is possible to do so, and use the percentage method in all other instances. Assume the state income tax withholding rate to be 5% of taxable pay (which is the same for federal and state income tax withholding). 1. Zachary Fox does not make any voluntary deductions that impact earnings subject to federal income tax withholding. He is married files his tax retum as married filing jointly, and his weekly gross pay was $1,162. When completing form W-4 Zachary checked box 2c, entered $2,000 in step 3 of the form, and left step 4 blank 1: Zachary Fox 95.26 Federal income tax withholding = $ State income tax withholding = $ 58.10Step by Step Solution
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