The New Jersey State income tax is assessed at 2% of taxable income for incomes less...
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The New Jersey State income tax is assessed at 2% of taxable income for incomes less than or equal to $20,000. For taxable incomes greater than $20,000, state taxes are 2.5% of the income exceeding $20,000 plus a fixed amount of $400. Determine how much an individual in New Jersey will be required to pay in taxes. 1. Create a data set that contains the taxable income of 15 individuals where taxable income varies between $11,000 to $60,000. Provide the data set in the following table format: Individual 1 2 3 15 Taxable Income ($) Taxable income for individual #1 Taxable income for individual #2 Taxable income for individual #3 Taxable income for individual #15 2. Construct an algorithm to identify the sequence of steps need to perform the computation. 3. Construct a pseudocode to describe the steps and methods needed to obtain the computational result (i.e., the amount to pay in taxes). 4. Generate a MATLAB script that determines how much an individual in New Jersey will be required to pay in taxes. 5. Submit your table, algorithm, pseudocode, and script on Blackboard by Tuesday, The New Jersey State income tax is assessed at 2% of taxable income for incomes less than or equal to $20,000. For taxable incomes greater than $20,000, state taxes are 2.5% of the income exceeding $20,000 plus a fixed amount of $400. Determine how much an individual in New Jersey will be required to pay in taxes. 1. Create a data set that contains the taxable income of 15 individuals where taxable income varies between $11,000 to $60,000. Provide the data set in the following table format: Individual 1 2 3 15 Taxable Income ($) Taxable income for individual #1 Taxable income for individual #2 Taxable income for individual #3 Taxable income for individual #15 2. Construct an algorithm to identify the sequence of steps need to perform the computation. 3. Construct a pseudocode to describe the steps and methods needed to obtain the computational result (i.e., the amount to pay in taxes). 4. Generate a MATLAB script that determines how much an individual in New Jersey will be required to pay in taxes. 5. Submit your table, algorithm, pseudocode, and script on Blackboard by Tuesday,
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Answer rating: 100% (QA)
1 Data Set of Taxable Income of 15 Individuals in New Jersey IndividualTaxable Income 1 11300 2 1450... 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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