Determine the amount of average income tax liability per tax return, for each income range provided,...
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Determine the amount of average income tax liability per tax return, for each income range provided, using the information in the below table. Taxable Income and Total Tax Liability are in thousands. (Enter your answers in dollers rounded to the nearest dollar value.) Ranges of Adjusted Gross Income $15,000 to under $30,000 under $50,000 under $100,000 under $200,000 29,734, 201 Under $30,000 to $50,000 to $100,000 to $200, 000 or more $15,000 Item Number of returns 34,703,e83 $21,397,029 $212,001,025 26,719,052 $564,350,669 $1,600,848,472 $1,930,713,847 $2,994, 244,158 33, 267,270 18,932,828 6,959,511 Taxable income Total tax liability Average tax rate $ 1,826,539 $ 18,583,289 $ 57,988,578 $ 210,103,387 $ 322,558, 340 $ 835,714,234 8.54% 8.77% 10.28% 13.12% 16.71% 27.91% Under $15,000 $15,000 to under $30,000 530,000 to under $50,000 50,000 to under 5100,000 $100,000 to under $200,000 $200,000 or more Determine the amount of average income tax liability per tax return, for each income range provided, using the information in the below table. Taxable Income and Total Tax Liability are in thousands. (Enter your answers in dollers rounded to the nearest dollar value.) Ranges of Adjusted Gross Income $15,000 to under $30,000 under $50,000 under $100,000 under $200,000 29,734, 201 Under $30,000 to $50,000 to $100,000 to $200, 000 or more $15,000 Item Number of returns 34,703,e83 $21,397,029 $212,001,025 26,719,052 $564,350,669 $1,600,848,472 $1,930,713,847 $2,994, 244,158 33, 267,270 18,932,828 6,959,511 Taxable income Total tax liability Average tax rate $ 1,826,539 $ 18,583,289 $ 57,988,578 $ 210,103,387 $ 322,558, 340 $ 835,714,234 8.54% 8.77% 10.28% 13.12% 16.71% 27.91% Under $15,000 $15,000 to under $30,000 530,000 to under $50,000 50,000 to under 5100,000 $100,000 to under $200,000 $200,000 or more
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Average amount of taxable income per return Taxable incomeNumber ... View the full answer
Related Book For
Fundamentals of Taxation 2015
ISBN: 9781259293092
8th edition
Authors: Ana Cruz, Michael Deschamps, Frederick Niswander, Debra Prendergast, Dan Schisler, Jinhee Trone
Posted Date:
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