Shaun earned $95,000 this year. His state tax rate is 6%. The federal payroll tax rate...

 

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Shaun earned $95,000 this year. His state tax rate is 6%. The federal payroll tax rate is 13%. The federal income tax rate for income under $32,000 is 8%, for income between $32,000 and $62,000 is 20%, and for income over $62,000 is 32%. Shaun's Total Tax Paid = Shaun's Marginal Tax Rate Shaun's Average Tax Rate = Shaun earned $95,000 this year. His state tax rate is 6%. The federal payroll tax rate is 13%. The federal income tax rate for income under $32,000 is 8%, for income between $32,000 and $62,000 is 20%, and for income over $62,000 is 32%. Shaun's Total Tax Paid = Shaun's Marginal Tax Rate Shaun's Average Tax Rate =

Answer rating: 100% (QA)

SOLUTION To calculate Shauns total tax paid we need to calculate his state tax federal payroll ... View the full answer