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Go to the Federation of Tax Administrators Web site at www.taxadmin.org. Go to Divisions and Programs and click on Research

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Go to the “Federation of Tax Administrators” Web site at www.taxadmin.org. Go to “Divisions and Programs” and click on “Research and Tax Rates” and then “Current Tax Rates.” Open the file called “State Individual Income Tax Rates,” and answer the following questions based on the state in which you live (if there are no taxes in your state, select another state where taxes are imposed):
a. What are the lowest and highest tax rates in your state?
b. How many tax brackets are there?
c. What is the exemption for a single taxpayer, for a married couple, and per dependent?
d. Are your federal taxes deductible?

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Based on the state I live in California the lowest tax rate is 1 and the highest tax rate is 12 3 Th…View the full answer


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Question Details
Chapter # 4
Section: Financial Planning Online Exercises
Problem: 1
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Question Posted: December 30, 2022 06:17:36
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