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Mr. Jones has an annual gross pay of $22,000. His state tax rate is 2% of his gross pay. He is required to pay Social Security at a rate of 6.2% and Medicare at a rate of 1.45%. His federal tax obligation if $67 each week for 52 weeks. What is his net pay for the year?

Question 2 options:

A. $16,393

B. $12,909

C. $5,607

D. $19,169

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Answers (1)
  1. 9 May, 21:51
    0
    Option A

    $16393

    Step-by-step explanation:

    Deductions

    Percentage deductions total will be 2%+6.2%+1.45%=9.65%

    Deduction due to federal tax=52*67=$3484

    Total deductions will be (9.65*22000/100) + (52*67) = 2123+3484=$5607

    Net salary = Gross salary - Deductions

    Net salary = 22000-5607=$16393
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