Katarina, a single taxpayer, has total income from all sources of $100,000 for 2019. Her taxable...
Katarina, a single taxpayer, has total income from all sources of $100,000 for 2019. Her taxable income after taking into consideration $25,000 in deductions and $10,000 in exclusions is $65,000. Katarina’s tax liability is $10,159. What are Katarina's marginal, average, and effective tax rates?
Group of answer choices
12% marginal; 15.6% average; 13.5% effective
22% marginal; 15.6% average; 15.6% effective
24% marginal; 13.5% average; 15.6% effective
22% marginal; 15.6% average; 13.5% effective
12% marginal; 13.5% average; 15.6% effective
Homework Answers
22% marginal; 15.6% average; 15.6% effective.
Calculation:-
- Calculation of Marginal Tar Rate as per 2019 tax rate :-
| 22% | $39,476 – $84,200 |
So Marginal Tax rate for $65,000 will be 22%
- Calculation of Average Tax rate:-
10,159/65000*100= 15.6%
- Calculation of Effective Tax rate:-
10,159/65000*100= 15.6%
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