Question

Georgia’s gross pay was $35,600 this year. She is to pay a federal income tax of 16%. How much should Georgia pay in federal income tax this year? Round to the nearest dollar. $29. 90 $569. 00 $5,696. 00 $29,904. 0.

Answer 1

Gross income is different from Taxable Income. There are deductions that must be deducted from gross income to arrive at the taxable income.

Federal income tax this year

Correct option is C.

Georgia pay in federal income tax this year "$5,696. 00"

In order to find federal income tax, calculate adjusted gross income.

Then from adjusted gross income,  subtract exemptions and deductions to get your taxable income.

Only 11 % of the people who belong to the age group 25-55 years do not pay federal income tax while more than 80% who belong to the age group of 75 years or older also do not pay tax.

Georgia's gross pay 35,600 this year.

Rate of federal income tax = 16%

Hence, amount paid by Georgia = 16/100×35,600 =$5696

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