Julio Is Single with 1 Withholding Allowance

question 33

Multiple Choice

Julio is single with 1 withholding allowance.He earned $1,025.00 during the most recent semimonthly pay period.He needs to decide between contributing 3% and $30 to his 401(k) plan.If he chooses the method that results in the lowest taxable income,how much will be withheld for Federal income tax (based on the following table) ?

• A)$79.00
• B)$86.00
• C)$74.00
• D)Both yield the same tax amount

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Definitions:

Long-arm Statutes

refer to laws that allow for the service of process beyond a state's borders to non-resident defendants under specific circumstances.

Minimum Contacts

A legal principle that determines the ability of a court to exercise jurisdiction over parties based on their connection to the location where the court is established.

Jurisdiction

The official power to make legal decisions and judgments, often within a specific geographic area or over certain types of legal cases.

Defendant

The party against whom a legal action is brought in a court of law.