Percentage Rate 6% 10 20 28 Required: a. Taxpayer A's taxable income is $178,300. Compute A's tax and average tax rate. What is A's marginal tax rate? b. Taxpayer B's taxable income is $661,800. Compute B's tax and average tax rate. What is B's marginal tax rate? Bracket Income from -0 to $30,000 Income from $30,001 to $70,000 Income from $70,001 to $200,000 Income in excess of $200,000 Complete this question by entering your answers in the tabs below. Required A Required B Taxpayer A's taxable income is $178,300. Compute A's tax and average tax rate. What is A's marginal tax rate? Note: Round your percentage answers to 2 decimal places and other answers to the nearest whole dollar amount. Taxpayer A Income tax Average tax rate Marginal tax rate % % < Required A Required B >
Percentage Rate 6% 10 20 28 Required: a. Taxpayer A's taxable income is $178,300. Compute A's tax and average tax rate. What is A's marginal tax rate? b. Taxpayer B's taxable income is $661,800. Compute B's tax and average tax rate. What is B's marginal tax rate? Bracket Income from -0 to $30,000 Income from $30,001 to $70,000 Income from $70,001 to $200,000 Income in excess of $200,000 Complete this question by entering your answers in the tabs below. Required A Required B Taxpayer A's taxable income is $178,300. Compute A's tax and average tax rate. What is A's marginal tax rate? Note: Round your percentage answers to 2 decimal places and other answers to the nearest whole dollar amount. Taxpayer A Income tax Average tax rate Marginal tax rate % % < Required A Required B >
Chapter6: Business Expenses
Section: Chapter Questions
Problem 51P
Related questions
Question
Hh2.
Transcribed Image Text:Government G levies an income tax with the following rate structure:
Percentage Rate
6%
10
20
28
Required:
a. Taxpayer A's taxable income is $178,300. Compute A's tax and average tax rate. What is A's marginal tax rate?
b. Taxpayer B's taxable income is $661,800. Compute B's tax and average tax rate. What is B's marginal tax rate?
Bracket
Income from -0 to $30,000
Income from $30,001 to $70,000
Income from $70,001 to $200,000
Income in excess of $200,000
Complete this question by entering your answers in the tabs below.
Required A Required B
Income tax
Average tax rate
Marginal tax rate
Taxpayer A's taxable income is $178,300. Compute A's tax and average tax rate. What is A's marginal tax rate?
Note: Round your percentage answers to 2 decimal places and other answers to the nearest whole dollar amount.
Taxpayer A
%
%
< Required A
Required B >
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