Question

an employee had a federal taxable income of 57943. how much state tax is owed if the state rate is 3.15%?

Answer 1

Answer:

Tax = $1,825.20 (rounded up to nearest one cent)

Step-by-step explanation:

Taxable income is $57,943

Tax rate is 3.15%

Tax = rate/100 × income

Tax = $\frac{3.15}{100}$ × 57943 = $1,825.20 (rounded up to nearest one cent)