A single person who claims one exemption would have
this money deducted from his or her paycheck:
Federal Income Tax (FIT)
 | For those earning under about $24,600 per year,
the tax rate is approximately 15% of gross earnings.
Between $24,600 and about $60,000, the tax rate
jumps to 28%. Above $60,000 the tax rate is 31%,
36%, or 39.6%. |
Federal Insurance Compensation Act (FICA), the
official name for Social Security
| The tax rate is 6.2%, up to a maximum tax of
about $4,100 for Social Security. The tax rate is
1.45% for Medicare on all wages earned. |
State Income Tax (SIT)
| The tax rate ranges from 0% to 9.3%, depending
on 1) your state and income, and 2) where you live.
|
State Disability Insurance (SDI)
| The tax rate is 1%, up to a maximum tax of about
$320. |
|
