20 According to the spreadsheet below, what tax rate would a married couple pay if their combined income was $865,000. 2016 Federal Income Tax Brackets SINGLE MARRIED, FILING JOINTLY HEAD OF HOUSEHOLD INCOME RANGE TAX INCOME RANGE TAX INCOME RANGE TAX $0- $18,550 10% $18,551- $75,300 15% $0- $9,275 10% $0- $13,250 10% $9,276- $37,650 15% $13,251- $50,400 15% $37,651- $91.150 25% $75,301- $151,900 25% $151,901-$231,450 20% $231,451-$413,350 33% $50,401-$130,150 25% $91,151-$190,150 28% $190,151-$413.350 33% $413.351-$415.050 35% $130,151-$210,800 28% $210,801-$413,350 33% $413,351-5466,950 35% $413,351-$441,000 35% $415,051 39.4% $466,951+ 39.0% $441,001+ 39.6% Source Internal Revenue Service "Revenue Procedures 2015-53 A 10% B 28% c 35% 39.6%
20 According to the spreadsheet below, what tax rate would a married couple pay if their combined income was $865,000. 2016 Federal Income Tax Brackets SINGLE MARRIED, FILING JOINTLY HEAD OF HOUSEHOLD INCOME RANGE TAX INCOME RANGE TAX INCOME RANGE TAX $0- $18,550 10% $18,551- $75,300 15% $0- $9,275 10% $0- $13,250 10% $9,276- $37,650 15% $13,251- $50,400 15% $37,651- $91.150 25% $75,301- $151,900 25% $151,901-$231,450 20% $231,451-$413,350 33% $50,401-$130,150 25% $91,151-$190,150 28% $190,151-$413.350 33% $413.351-$415.050 35% $130,151-$210,800 28% $210,801-$413,350 33% $413,351-5466,950 35% $413,351-$441,000 35% $415,051 39.4% $466,951+ 39.0% $441,001+ 39.6% Source Internal Revenue Service "Revenue Procedures 2015-53 A 10% B 28% c 35% 39.6%
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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