Juliana lives and works in Pennsylvania, which has a flat state income tax of 3.07%. If her annual salary is $41,995 and she gets paid once a month, how much is withheld from her gross income for state income tax each pay period?
$107.437 If instructor requests rounding, round it to $107.44
Answer: 107.44 ( approx )
Step-by-step explanation:
Since, her total annual income = 41995
⇒ \(\text{Her monthly income}=\frac{\text{ Annual income} }{12}\)
\(=\frac{41995}{12}\)
Since, the tax rate per month = 3.07%
Thus, the total income tax she paid per month = 3.07 % of her monthly salary,
= \(3.07\%\text{ of }\frac{41995}{12}\)
= \(\frac{3.07}{100}\times \frac{41995}{12}\)
= \(\frac{128924.65}{1200}\)
= \(107.437208\approx 107.44\)