paycheck taxes

[cindyg86]

Hi everyone! I just received my first paycheck from my internship today and it is really the only time I have looked at the taxes being taken out. Below is my information.

Gross amount - $720.00

FICA - $44.64 (6.2%)
Medicare - $10.44 (1.45%)
Federal - $78.00 (10.83%)
State (Iowa) - $22.00 (3.05%)
Total taxes taken out - $155.08 (21.53%)

Net amount - $564.92

I'm still in college and my parents are my main source of "income"... because of this, I did not claim any exemptions. If that piece of information helps at all.

Anyways, I was just wondering if this was a normal percentage for taxes being taken out of a paycheck. If I remember correctly, I believe the FICA and Medicare percentages are fixed, so I'm mainly wondering about the Federal and State taxes.

Thanks!

[EDIT]
I am paid bi-weekly and will have the internship until August 8th.
[/EDIT]

[noppenbd]

Assuming this is biweekly, it looks in the ballpark to me. Depending on total yearly income, you will likely be in the 10% federal bracket this year, so you may end up with a small (<$500) refund. If you made 18720 a year (720 x 26 paychecks), you would be in the 15% bracket, and your total tax bill would be $1800, which would require withholdings of $70 a paycheck, so $78 is not far off. Not sure about state, but I would assume it's correct.