Marshall, a business analyst in Las Vegas, Nevada, has biweekly earnings subject to deductions for...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Marshall, a business analyst in Las Vegas, Nevada, has biweekly earnings subject to deductions for Social Security, Medicare, and federal income tax. Nevada does not collect a state income tax. He is single and claims two exemptions. What is Marshalls net pay for the pay period? He earns 69632 annually. The allowance is 161.50. Social security deduction is 6.2% and Medicare is 1.45%
Thanks
TABLE 2-BIWEEKLY Payroll Period $0 (a) SINGLE person (including head of household) (b) MARRIED person- If the amount of wages of the amount of wages (after subtracting The amount of income tax (after subtracting The amount of income tax withholding allowances) is to withhold is withholding allowances) is: to withhold is: Not over $146....... SO Not over $454 Over But not over- of excess over-Over- But not over- of excess over- $146 -$519 $0.00 plus 10% -$146 $454 $1,200 $0.00 plus 10% -$454 $519 -$1.684 $3730 plus 12% -$519 $1.200 -$3.490 $74.60 plus 12% -$1 200 $1,664 -53,385 $174.70 plus 22% $1.684 $3.490 $6.931 $349,40 plus 22% $3.490 $3,385 - $6,328 $553.32 plus 24% -$3,385 $6.931 $12,817 31.106.42 plus 24% - $6.931 $6.328 37.995 $1,259.64 plus 32% -$6.328 $12.817 - $16.154 $2.519.06 plus 32 -$12.817 $7,996 -$19,773 $1,793.40 plus 35% - $7,996 $16,154 - $24,006 . $3,586.90 plus 35% - $16.154 $19,773............$5,915.35 plus 37% -$19,773 $24,006.......... $6.335.10 plus 37% - $24.006
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!