Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. 1 instructions: using the "net taxable income" (75

1 INSTRUCTIONS: using the "Net Taxable income" (75,416) calculate each tax listed sep 1: usine...

90.2K

Verified Solution

Question

Accounting

image
1 INSTRUCTIONS: using the "Net Taxable income" (75,416) calculate each tax listed sep 1: usine pelow List of Taxes Paid by the average Swedish wage earner on income i) Municipal Tax Rate 19.09143% ii) County Tax Rate 12.02397% iii) High Tax Rate .059364% iv) Federal Income Tax- 32.1059% Social Security Tax Step 2: Add all of the taxes together into one total. i) Municipal Tax Rate ii) County Tax Rate iii) High Tax Rate iv) Federal Income Tax- Social Security Tax V) Total Income Tax Step 3: then subtract the total tax from the "Net Taxable income" number to arrive at the "Net Income" figure (the amount you actually see on your pay check) Gross Salary Personal Deductions Net Taxable income Minus Total Tax Total Net Income (after Tax) 77,000 -1,584 75,416

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students