If 10% of that paycheck was withheld for federal income taxes and another 6% for state income taxes, how much would your net (or take-home) pay be?
To calculate the net pay, first calculate the total amount withheld for federal and state income taxes.
Total amount withheld = 10% + 6% = 16%
So 16% of the paycheck is withheld for taxes.
Net pay = paycheck amount - total amount withheld
Therefore, Net pay = 100% - 16% = 84%
Net pay = 84% of the paycheck
If the paycheck amount is $1000, then the net pay would be:
Net pay = 84% of $1000 = 0.84 x $1000 = $840
Therefore, your net pay after 10% federal income tax and 6% state income tax deductions would be $840.