Homework Answers
12. The marginal tax rate is the tax that you pay for the extra
dollars that you earn over the previous taxable bracket.
In this question, a person earning $120,000 is earning more than
the $100,000. Therefore, the marginal tax rate is d.
60%.
13. A person earning 120,000 pays taxes:
$50,000*20% = $10,000
+$50,000*40% = $20,000
+$20,000*60% = $12,000
Total Tax = $42,000
Therefore, average tax rate is calculated as = Total Tax/Total
Income
= 42,000/120,000
= 35%
Ans (b) 35%
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Table 12-5 Income Tax rate $0...
Table 12-3 Income SO to $40,000 Over $40,000 Tax rate 20% 50% Refer to Table 12-3....
Table 12-3 Income SO to $40,000 Over $40,000 Tax rate 20% 50% Refer to Table 12-3. What is the marginal tax rate for a person who makes $35,000? Select one: a. 50% b. 30% c. 40% d. 20% NE e link: Topic 07.3 3/15/2019 Jump to... Sample questions for Exa
Given this tax table, what is the average tax rate and what is the marginal tax...
Given this tax table, what is the average tax rate and what is the marginal tax rate for a firm with taxable income of $160,000? 0 - 50,000 15% 50,001-75,000 25% 75,001-100,000 34% 100,001 - 335,000 39%
Marginal Tax Rate Taxable Income Portion Subject to That Rate 15% 0–$50,000 25% $50,001–$75,000 34% $75,001–$100,000...
Marginal Tax Rate
Taxable Income Portion Subject to That Rate
15%
0–$50,000
25%
$50,001–$75,000
34%
$75,001–$100,000
39%
$100,001–$335,000
34%
$335,001–$10,000,000
35%
$10,000,001–$15,000,000
38%
$15,000,001–$18,333,333
35%
$18,333,333+
(4 of 10 Using the tax table provided in Figure 10.3, determine the average and marginal tax rates for a company that earned $18.5 million in taxable income. Average rate = 35.00%; Marginal rate = 35.00% Average rate = 38.00%; Marginal rate = 34.68% Average rate = 34.68%; Marginal rate = 35.00% Average rate...
What would be the marginal and average tax rates for a corporation with an income level...
What would be the marginal and average tax rates for a corporation with an income level of $100,000? Use Table 3-5. (Do not round intermediate calculations. Enter the marginal tax rate as a whole percent. Enter the average tax rate as a percent rounded to 2 decimal places.) 34 % Marginal tax rate Average tax rate TABLE 3.5 corporate tax Tax Rate (%) Taxable Income ($) rates, 2016 0-50,000 15 50,001-75,000 25 75,001-100,000 34 100,001-18,333,333 Varles between 39 and 34...
The SGS Co. had $120,000 in taxable income. Use the rates from Table 2.3. What is...
The SGS Co. had $120,000 in taxable income. Use the rates from Table 2.3. What is the average tax rate? (Do not round intermediate calculations and enter your answer as a percent rounde Average tax rate What is the marginal tax rate? (Enter your answer as a percent rounded to the nearest whole number, e.g., 32.) Marginal tax rate Taxable Income Tax Rato 0 50,000 75,000 75,001- 100,000 15% 25 34 39 34 35 38 35 50,001 100,001 335,000 335,001-...
The Anberlin Co. had $272194 in 2015 taxable income. Use the tax rates from Table 2.3....
The Anberlin Co. had $272194 in 2015 taxable income. Use the tax rates from Table 2.3. Calculate the company’s marginal tax rate. Taxable Income Tax rate $0-50,000 15% 50,001-75,000 25% 75,001-100,000 34% 100,001-335,000 39% 335,001-10,000,000 34% 10,000,001-15,000,000 35% 15,000,001-18,333,333 38% 18,333,334 + 35%
The Anberin Co. had $305319 in 2015 taxable income. Use the tax rates from Table 2.3....
The Anberin Co. had $305319 in 2015 taxable income. Use the tax rates from Table 2.3. Calculate the company's marginal tax rate TABLE 2.3 Taxable Income Corporate Tax Rates 50,000 75,000 100,000 100,001335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 15% 25 34 39 34 35 38 35 50,001 75,001 18,333,334+
Table 12-7 The following table shows the marginal tax rates for unmarried individuals for two years....
Table 12-7 The following table shows the marginal tax rates for unmarried individuals for two years. 2009 2010 On Taxable The Tax Rate On Taxable The Tax Rate is... Income... is... Income... $0 to $15,000 10% Over $0 20% $15,000 to $40,000 15% $40,000 to $75,000 20% $75,000 to 25% $120,000 Over $120,000 30% Refer to Table 12-7. For an individual who earned $35,000 in taxable income in both years, which of the following describes the change in the individual's...
please show all work 4. Calculating Taxes The Alexander Co. had $328,500 in taxable income. Using...
please show all work
4. Calculating Taxes The Alexander Co. had $328,500 in taxable income. Using the rates from Table 2.3 in the chapter, calculate the company's income taxes. What is the average tax rate? What is the marginal tax rate? TAX RATE 15% 25 34 39 TAXABLE INCOME 0-50,000 50,001-75,000 75,001-100,000 100,001-335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 34 35 38 35 18,333,334+
Student, Inc. had $250,000 in 2019 taxable 1.5 income. Using the graduated rate table below, (2...
Student, Inc. had $250,000 in 2019 taxable 1.5 income. Using the graduated rate table below, (2 points) Calculate Student, Inc.'s income tax liability. b. (2 points) What is Student, Inc.'s average tax rate? (2 points) a. c. What is Student, Inc.'s marginal tax rate? Taxable Income Tax Rate 50,000| 15% 75,000 25 0- 50,001- 75,001- 100,000 34 100,001- 335,000 39 335,001-10,000,000 34 10,000,001-15,000,000 35 15,000,001-18,333,333|38 18,333,334-+ 35 (2 points) Calculate Student, Inc.'s income tax liability under the new flat 21%...
Table 12-3 Income SO to $40,000 Over $40,000 Tax rate 20% 50% Refer to Table 12-3. What is the marginal tax rate for a person who makes $35,000? Select one: a. 50% b. 30% c. 40% d. 20% NE e link: Topic 07.3 3/15/2019 Jump to... Sample questions for Exa
Given this tax table, what is the average tax rate and what is the marginal tax rate for a firm with taxable income of $160,000? 0 - 50,000 15% 50,001-75,000 25% 75,001-100,000 34% 100,001 - 335,000 39%
Marginal Tax Rate
Taxable Income Portion Subject to That Rate
15%
0–$50,000
25%
$50,001–$75,000
34%
$75,001–$100,000
39%
$100,001–$335,000
34%
$335,001–$10,000,000
35%
$10,000,001–$15,000,000
38%
$15,000,001–$18,333,333
35%
$18,333,333+
(4 of 10 Using the tax table provided in Figure 10.3, determine the average and marginal tax rates for a company that earned $18.5 million in taxable income. Average rate = 35.00%; Marginal rate = 35.00% Average rate = 38.00%; Marginal rate = 34.68% Average rate = 34.68%; Marginal rate = 35.00% Average rate...
What would be the marginal and average tax rates for a corporation with an income level of $100,000? Use Table 3-5. (Do not round intermediate calculations. Enter the marginal tax rate as a whole percent. Enter the average tax rate as a percent rounded to 2 decimal places.) 34 % Marginal tax rate Average tax rate TABLE 3.5 corporate tax Tax Rate (%) Taxable Income ($) rates, 2016 0-50,000 15 50,001-75,000 25 75,001-100,000 34 100,001-18,333,333 Varles between 39 and 34...
The SGS Co. had $120,000 in taxable income. Use the rates from Table 2.3. What is the average tax rate? (Do not round intermediate calculations and enter your answer as a percent rounde Average tax rate What is the marginal tax rate? (Enter your answer as a percent rounded to the nearest whole number, e.g., 32.) Marginal tax rate Taxable Income Tax Rato 0 50,000 75,000 75,001- 100,000 15% 25 34 39 34 35 38 35 50,001 100,001 335,000 335,001-...
The Anberin Co. had $305319 in 2015 taxable income. Use the tax rates from Table 2.3. Calculate the company's marginal tax rate TABLE 2.3 Taxable Income Corporate Tax Rates 50,000 75,000 100,000 100,001335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 15% 25 34 39 34 35 38 35 50,001 75,001 18,333,334+
Table 12-7 The following table shows the marginal tax rates for unmarried individuals for two years. 2009 2010 On Taxable The Tax Rate On Taxable The Tax Rate is... Income... is... Income... $0 to $15,000 10% Over $0 20% $15,000 to $40,000 15% $40,000 to $75,000 20% $75,000 to 25% $120,000 Over $120,000 30% Refer to Table 12-7. For an individual who earned $35,000 in taxable income in both years, which of the following describes the change in the individual's...
please show all work
4. Calculating Taxes The Alexander Co. had $328,500 in taxable income. Using the rates from Table 2.3 in the chapter, calculate the company's income taxes. What is the average tax rate? What is the marginal tax rate? TAX RATE 15% 25 34 39 TAXABLE INCOME 0-50,000 50,001-75,000 75,001-100,000 100,001-335,000 335,001-10,000,000 10,000,001-15,000,000 15,000,001-18,333,333 34 35 38 35 18,333,334+
Student, Inc. had $250,000 in 2019 taxable 1.5 income. Using the graduated rate table below, (2 points) Calculate Student, Inc.'s income tax liability. b. (2 points) What is Student, Inc.'s average tax rate? (2 points) a. c. What is Student, Inc.'s marginal tax rate? Taxable Income Tax Rate 50,000| 15% 75,000 25 0- 50,001- 75,001- 100,000 34 100,001- 335,000 39 335,001-10,000,000 34 10,000,001-15,000,000 35 15,000,001-18,333,333|38 18,333,334-+ 35 (2 points) Calculate Student, Inc.'s income tax liability under the new flat 21%...
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