Do Now…Your annual salary is $28,460. Your state personal deductions total $88.00 for a weekly pay period. The state rate is 3.6 percent of taxable income. The city tax rate is 1.7 percent of gross pay. Medical and group life insurance are paid by the company. Social Security and Medicare are withheld. Union dues are $156 per year. FIT is $67 per pay period. What is your net pay for each weekly pay period?

I think I know,

check my answer

October 11, 2011

Statement of Earnings• $28,460 52 = $547.31• $547.31 - $88.00 = $459.31• state tax rate 3.6%• $459.31 X .036 = $16.54 city tax rate 1.7%

• $547.31 X .017 = $9.30• Soc. Sec rate 6.2%• $547.31 X .062 = $33.93• Medicare rate 1.45%• $547.31 X .0145 = $7.94• Union Dues• $156.00 52 = $3.00

State Tax = $16.54City Tax = $ 9.30Soc. Sec. = $33.93Medicare = $ 7.94Union Dues = $ 3.00FIT = $67.00Total Deductions $ 137.71