How much percent of your paycheck does taxes take?
You will notice the following taxes taken from your paycheck: FICA OASDI is calculated as your gross earnings times 6.2%. FICA Medicare is calculated as the gross earnings times 1.45%. Plus your state and local taxes. ChaCha again soon!
Answered by Brent L. -
About Taxes
Taxes are a financial charge or other levy upon a taxpayer by a governing body. Taxes are used to carry out functions of the state and cover costs. Taxes are also the result of citizens demands for accountable representation.
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