Question

if your household income is $60,000 and you are in the tax bracket of [$50,001-$75,000], with tax rate listed as “25%”,

your average tax rate is 25% |
||

your marginal tax rate is 25% |

Answer #1

Hello

**YOUR
REQUIRED ANSWER IS : your marginal tax rate is
25%**

Given that the household income is $60,000 falling between $50,001 and $75,000 with tax rate listed as 25%, we can say that the marginal tax rate is 25%.

Marginal tax rate is the rate of tax which we have to pay on 1$ if we earn 1extra $ from our current level of income and hence, it is 25%,

while Average Tax Rate = Total Tax/ Total Income, which in case, it will vary if the tax rates in other brackets lower than $50,001 is anything ither than 25%.

**Thanks!**

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helpful.**

Country A levies an individual income tax with the following
rate structure:
Percentage Rate Bracket
10 % Income from –0– to $20,000
15% Income from $20,001 to $75,000
25% Income from $75,001 to $160,000
30% Income in excess of $160,000
A. Mr. LV’s taxable income is $60,400. Compute his tax and
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B. Ms. JC’s taxable income is $320,400. Compute her tax and
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2020 tax bracket schedule Chuck, a single taxpayer, earns
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schedule.) Required: If Chuck earns an additional $40,000 of
taxable income, what is his marginal tax rate on this income? What
is his marginal rate if, instead, he had $40,000 of additional
deductions? (For all requirements, do not round intermediate
calculations. Round percentage answers to 2 decimal places.
2020 tax...

1. Country A levies an individual income tax with the following
rate structure:
Percentage Rate
Bracket
10
%
Income from –0– to $20,000
15
Income from $20,001 to $75,000
25
Income from $75,001 to $160,000
30
Income in excess of $160,000
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Base
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$75,000-$100,000 13,750 34
$100,000-$335,000 22,250 39
$335,000-$10,000,000 113,900 34
$10,000,000-$15,000,000 3,400,000 35
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Over $18,333,333 6,416,667 35
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The tax rates are as shown below:
Taxable Income
Tax Rate
$0 – 50,000
15
%
50,001 – 75,000
25
%
75,001 – 100,000
34
%
100,001 – 335,000
39
%
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additional tax will you owe if you increase your taxable income by
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The tax rates are as shown. Your firm currently has taxable income
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How much additional tax will you owe if you increase your
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Taxable Income
Tax Rate
0-50,000
15%
50,001 - 75,000
25%
75,001 - 100,000
34%
100,001 - 335,000
39%
a. $133.00
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d. $7,075.00

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marginal tax rate of 15% covers taxable incomes up to $40,000?

The tax rates are as shown below:
Taxable Income
Tax Rate
$0 – 50,000
15
%
50,001 – 75,000
25
%
75,001 – 100,000
34
%
100,001 – 335,000
39
%
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$22,600?
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$7,268
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(Not sure if the tax rates have anything to do with this problem
or my previous problem so I'm inserting it just incase. If it is
needed then it goes with this problem)
The tax rates are as shown below:
Taxable
Income
Tax Rate
$0
– 50,000
15
%
50,001 –...

(Corporate income tax) Boisjoly Productions had taxable income
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a. Calculate Boisjoly's federal income taxes by using the
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