Question: Given the following information, would it be better for Illinois resident Salem Marcos to itemize her sales tax or her state income tax on her
Given the following information, would it be better for Illinois resident Salem Marcos to itemize her sales tax or her state income tax on her federal tax return?
Federal taxable income …………………… $47,900
Federal marginal income tax rate …………. 25%
State taxable income ……………………… $41,250
State marginal income tax rate …………… 3%
Total sales tax paid ………………………. $1,300
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