Ch 2 : Net Income

For B. Brown, how much FIT is withheld?

• $11

• $50

• $25

• $38

For M. Shah, how much FIT is withheld?

• $28

• $68

• $20

• $13

For S. Sheeks, how much FIT is withheld?

• $11

• $64

• $28

• $13

For J. Williams, how much FIT is withheld?

• $18

• $42

• $82

• $29

Chris Butcher earns $21,423 per year. His personal exemptions include himself, his wife, and their son. The state tax rate in his state is 4.5 percent of taxable income. What amount is withheld yearly for state income tax?

• $828.23

• $797.54

• $43.19

• $200.03

Queena Kimbrell earns $32,000 per year as a journalist. She is single. The state tax rate in her state is 2 percent of taxable income.

• $43.19

• $82.28

• $43.19

• $50.83

Rita Yucatan earns $42,000 as a TV pro-ducer. She is married with two dependents. The state tax in her state is 3 percent of taxable income. What amount is withheld from each of her biweekly paychecks for state income tax?

• $43.19

• $20.03

• $43.38

• $51.36

Annual salary: $18,750 Married 26 pay periods

What is the tax withheld?

• $20.08

• $27.02

• $43.09

• $40.04

Annual salary: $24,400 Single 24 pay periods

• $28.90

• $27.02

• $56.02

• $44.17

Annual salary: $30,000 Married, one dependent Weekly

What is the tax withheld?

• $23.66

• $34.80

• $52.06

• $45.15