At the same time, for a well-tuned track machine the 2017 Chevrolet Corvette Grand Sport is remarkably docile to drive on your way to and back home from your next race school.
The federal income tax withholding would be $23, according to page 41 of the 2010 Circular E. The Social Security and Medicare tax rate for 1990 and later is 6.2 percent of gross earnings up to $106,800 and 1.45 percent of all gross compensation, respectively. Suppose the employee earns $200 weekly.
Payroll Taxes for Employees. If an individual is an employee, the employer must withhold payroll taxes, including federal and state income taxes. The amount withheld depends on the amount of wages paid, the filing status (i.e. single or married), the number of pay periods, and the number of allowances claimed by the employee.