Know the difference between average and marginal tax rates and how to calculate them given a tax
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Question:
Know the difference between average and marginal tax rates and how to calculate them given a tax schedule.
The tax rates are as shown.
Taxable Income Tax Rate
– $0 - 50,000 15%
– 50,001 - 75,000 25%
– 75,001 - 100,000 34%
– 100,001 - 335,000 39%
What is the average tax rate for a firm with taxable income of $138,386? Marginal Rate?
Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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