Lynette is the CEO of publicly traded TTT Corporation and earns a salary of $370,000 in...
Lynette is the CEO of publicly traded TTT Corporation and earns a salary of $370,000 in the current year.
What is TTT Corporation’s after-tax cost of paying Lynette’s salary excluding FICA taxes?
Homework Answers
| Calculation of after Tax Salary:- | |
| Given, Salary= $370,000 | |
| Tax Rate= 21% | |
| After Tax cost = $370,000*[1-0.21] | |
| = 292,300 | |
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