kyliecandelaria64 kyliecandelaria64
  • 30-09-2021
  • Mathematics
contestada

Amber's gross pay is $45700 a year. The income tax rate is 4% and she takes $2000 in exemptions . What is her withholding for the year?

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Parrain
Parrain Parrain
  • 11-10-2021

After accounting for the exemptions, Amber's withholding tax is $1,748 for the year.

The withholding tax is the amount of tax that Amber owes.

This amount is calculated by the formula:

= Net pay x Income tax rate

Net pay = Gross pay - Exemptions

= 45,700 - 2,000

= $43,700

Withholding is:

= 43,700 x 4%

= $1,748

In conclusion, Amber's withholding for the year is $1,748.

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