Wayne Ko earns $36,200 annually as a college instructor. He is married and supports 2 children. The state tax rate is 4℅ of taxable income. What amount is withheld yearly for state income tax?
My answer is $1,368 but Im unsure if that's right.
$36,200 x 4/100 =$1,448.00 State income tax withheld.
4% means: 4/100 =0.04.
Note: You made a small typo by taking his salary as $34,200 instead of $36,200.