Question

Based on the federal tax rates below, how much taxes payable will Mr. Crowne have to pay in federal taxes for each case below?

2019 Rates

Taxable income ......................................... Marginal Rate

In Excess Of............. Federal Tax............... On Excess

-0-......................................... -0- ............................15.0%

46,605 ...............................6,991 ...........................20.5%

93,208 ..............................16,544 ..........................26.0%

144,489............................. 29,877.......................... 29.0%

205,842............................. 47,670 ..........................33.0%

Case A: Income= $103,500

Case B: Income= $52,000

Case C: Income= $215,000

Answer 1

CASE A

Case A	Total	$0 to $46,605	$46,606 to $93,208	$93,209 to $144,489	$144,490 to $205,842	More than $205,842
Marginal Tax Rate (A)		15%	20.50%	26%	29%	33%
Total Revenue - Breakup by rate slab (B)	$103,500.00	Yes	Yes	Yes	No	No
	$103,500.00	$46,605	$93,208 - $46,605	$103,500 - $93,208	$0	$0
		$46,605.00	$46,603.00	$10,292.00	$0.00	$0.00
Tax Payable (A x B)	$19,220.29	$6,990.75	$9,553.62	$2,675.92	$0.00	$0.00

CASE B

Case B	Total	$0 to $46,605	$46,606 to $93,208	$93,209 to $144,489	$144,490 to $205,842	More than $205,842
Marginal Tax Rate (A)		15%	20.50%	26%	29%	33%
Total Revenue - Breakup by rate slab (B)	$52,000.00	Yes	Yes	No	No	No
	$52,000.00	$46,605	$52,000 - $46,605	$0	$0	$0
		$46,605.00	$5,395.00	$0.00	$0.00	$0.00
Tax Payable	$8,096.73	$6,990.75	$1,105.98	$0.00	$0.00	$0.00

CASE C

Case B	Total	$0 to $46,605	$46,606 to $93,208	$93,209 to $144,489	$144,490 to $205,842	More than $205,842
Marginal Tax Rate (A)		15%	20.50%	26%	29%	33%
Total Revenue - Breakup by rate slab (B)	$215,000.00	Yes	Yes	No	No	No
	$215,000.00	$46,605	$93,208 - $46,605	$144,489 - $93,209	$205,842 - $144,489	$215,000 - $205,842
		$46,605.00	$46,603.00	$51,280.00	$61,353.00	$9,158.00
Tax Payable	$50,691.68	$6,990.75	$9,553.62	$13,332.80	$17,792.37	$3,022.14