Question

prince manufacturing is located in Winnipeg, manitoba and is preparing its Manitoba health and post-secondary education tax levy filing.the total amount of its annual gross manitoba payroll is $1,682,759.00 .calculate and select the company's tax levy owing

Answer 1

Solution:

Given :

The total amount of its annual gross Manitoba payroll is $1,682,759.00

Tax slab for Annual Payroll & Tax implication	Total amount of annual gross payroll	Tax
<= $1,250,000 = 0%	<= $1,250,000	$ 0
Between $1,250,000 and $2,500,000 = 4.3%	($1,682,759 - $1,250,000) *4.3%	18,609
> $2,500,000 = 2.15%	-	-
Total	Total tax owing	18,609

Explanation:

  Since, in the given case the payroll is $1,682,759.00.It  fall under the second slab

Therefore,

The company's tax levy owing is $18,609

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