Taxable income Marginal tax rate 0-12.000 € 0% 12.001-30.000€ 29% 30.001-75.000 € 39% άνω 75.000 € 40% Based on the data in the table above, calculate the total tax and the average tax rate for each of the following individuals: (i) A part-time employee with an annual income of € 8,000. (ii) A full-time employee with an annual income of € 35,000. (iii) A manager of a multinational company with an
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7
Taxable income | Marginal tax rate |
0-12.000 € | 0% |
12.001-30.000€ | 29% |
30.001-75.000 € | 39% |
άνω 75.000 € | 40% |
Based on the data in the table above, calculate the total tax and the average tax rate for each of the following individuals:
(i) A part-time employee with an annual income of € 8,000.
(ii) A full-time employee with an annual income of € 35,000.
(iii) A manager of a multinational company with an annual income of € 500,000.
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- Assuming a FICA tax rate of 7.65% on the first $142800 in wages, 1.45% on amounts in excess of $142800, and a federal income tax rate of 10% on all wages, what would be an employee's net pay for the year if he earned $199100 for the year? $168534 $178373 $168717 $167449Question 1: What is the self-employment tax rate levied on the first $142,800 of 2021 net self-employment income? Answer: А. 2.9% В. 12.4% C. 15.3% D. 18.2%Assume the FUTA tax rate is 0.6% and the SUTA tax rateis 5.4%. Both taxes are applied to the first $7,000 of anemployee’s pay. What is the total unemployment tax anemployer must pay on an employee’s annual wages of$40,000? a. $2,400 b. $420 c. $42 d. $378 e. $0; employee’s wages exceed the $7,000 maximum.
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