What is the tax rate (including federal, state, and local) for a single woman earning $41,000 in arizona?
2006-07-29 11:50:44 · 4 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
15%
2006-07-29 11:53:37 · answer #1 · answered by youhavequestions 3 · 4⤊ 1⤋
For federal, assuming that you have no dependants and do not itemize, you will get a standard deduction of $5150 and a personal exemption of $3300. $41,000-3300-5150=32550. The formula for this taxable income is 4220 plus 25% of excess over 30650. 32550-30650=1900*25%= 475+4220=$4695. Therefore, your total tax liability is $4695 for federal. Subtract any prepayments and withholdings you have already paid in, and that will be how much you owe, or get refunded.
After researching lightly on Arizona, their tax rate is progressive and ranges from 2.87 to 5.04% depending upon income. Their exemption is 2100. So your taxable income would be 41000-2100=38900. I would assume around a 3% tax, so around $1167. Local taxes usually run 1% if you are a resident and 1/2% if you are a non resident.
FICA taxes run 6.2% for social security and 1.45% for medicare. 7.65% of $41000 is $3136.50. That amount will be withheld from you over the year. I hope this helps!
2006-07-29 21:43:34 · answer #2 · answered by Josh 4 · 2⤊ 0⤋
How much does a car cost?
You haven't provided enough information.
But still, probably between 15 and 25% including good ole Social Security, which has no deductions and is 7.5% right off the top.
2006-07-29 18:55:32 · answer #3 · answered by Anonymous · 2⤊ 0⤋
For federal and state, we need information about potential deductions. For local, we need to know where in Arizona.
2006-07-29 19:54:03 · answer #4 · answered by STEVEN F 7 · 2⤊ 0⤋