Aquatech Microsystems reported a TI of $80,000 last year. If the state income tax rate is 6%,
Question:
Aquatech Microsystems reported a TI of $80,000 last year. If the state income tax rate is 6%, determine the
(a) average federal tax rate,
(b) overall effective tax rate,
(c) Total taxes to be paid based on the effective tax rate, and
(d) Total taxes paid to the state and paid to the federal government.
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a Federal taxes 13750 0345000 15450 using Table 171 rates Average ...View the full answer
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