If the tax rates are 10% on the first $25,000 of taxable income, and 20% on...
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If the tax rates are 10% on the first $25,000 of taxable income, and 20% on the next $25,000, and 30% on the next $100,000, what is the tax liability for an individual with $120,000 of taxable income, what is the marginal tax rate, and what is the average tax rate ? If the tax rates are 10% on the first $25,000 of taxable income, and 20% on the next $25,000, and 30% on the next $100,000, what is the tax liability for an individual with $120,000 of taxable income, what is the marginal tax rate, and what is the average tax rate ?
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For an individual with 120000 of taxable income the tax liability would be 10 on ... View the full answer
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
Posted Date:
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