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

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

Explanation:

Taxable income is $57,943

Tax rate is 3.15%

Tax = rate/100 × income

Tax =
`(3.15)/(100)` × 57943 = $1,825.20 (rounded up to nearest one cent)