Unformatted text preview: 7.65% Notes: 1. The taxable pay is the gross pay minus the deduction per dependent times the number of dependents 2. Withholding tax is calculated on the taxable pay 3. Social Security tax is calculated on the employee's gross pay 4. The overtime bonus is a variable rate and is found in cell E14. Number of Dependents Hourly Wage Regular Hours Overtime Hours Taxable Income Withholding Tax Soc Sec Tax...
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- Spring '09
- Taxation in the United States, Social Security Wage Base