Murray's Annual Income Tax Liability
Federal (Up to $9,225) | Federal (9,226−37,450) | Federal (37,451−90,750 | Federal (flat rate) |
10% | 15% | 25% | 4.5% |
Anant has an annual salary of
75,400.hecontributes20150 per month for health insurance (pre-tax, deducted after 401(k)). The table above summarises Anant's tax liability; all taxes are calculated bases on Anant's pre-tax pay. He must pay 10% on his first
9,225inincome,159,226 and
37,450,2537,451-$90,750, and a 4.5% state tax on all of his income. All taxes are deducted simultaneously. What is Anant's biweekly take-home pay after all deductions have been made?