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What percent of your paycheck goes to taxes if you make minimum wage?
The percentage of your paycheck that goes to taxes if you make minimum wage varies depending on your location and specific tax situation, including federal, state, and local taxes. In the U.S., the federal minimum wage is $7.25 per hour, and after accounting for federal income tax, Social Security, and Medicare taxes, an individual might see around 10-15% of their paycheck deducted for taxes. State and local taxes can further affect this percentage. Overall, the total tax rate for minimum wage earners can range from around 10% to 20%, depending on various factors.
How much does minimum wage employees cost?
The cost of minimum wage employees varies depending on factors such as the minimum wage rate in a specific location, the number of hours worked, and the employer's additional costs like taxes and benefits. For example, if the minimum wage is $15 per hour and an employee works 40 hours a week, the weekly cost would be $600 before taxes and benefits. Employers also need to consider payroll taxes and any additional expenses, which can increase the total cost of employing minimum wage workers. Overall, the total cost can significantly differ based on local regulations and business practices.
What is the minimum wage in Kansas?
The minimum wage is $7.25, the same as federal minimum wage.
Did they have a minimum wage in the 1800s?
there was no minimum wage then:)
What taxes are taken out for a 17 year old earning minimum wage?
You should get this information from your employer payroll department.
Minimum wage in the 1920s?
what was the minimum wage in the 1920
What is the minimum wage in Italy?
italy does not have a minimum wage
What is the minimum wage in Delaware?
The minimum wage in the state of Delaware is $7.25 an hour.
What is the minimum wage in Idaho?
The minimum wage in the state of Idaho is $7.25 an hour, the same as the federal minimum wage. This minimum wage was enacted in 2007.
What was the minimum wage in th 1920s?
There was no minimum wage in that era
How do you say the minimum wage is more?
higher minimum wage
A 1938 law set a minimum what?
wage
