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Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York
Individuals Schedule X-Single If taxable income is over: But not over: er. Rut not over: The tax is: $ 0 $ 9,700 10% of taxab
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Answer #1
Tax on $400000 115193.5 =46628.5+(400000-204100)*35%
a
Taxable income 415000 =400000+15000
Tax on $415000 120443.5 =46628.5+(415000-204100)*35%
Marginal tax rate 35% =(120443.5-115193.5)/15000
b
Taxable income 385000 =400000-15000
Tax on $415000 109943.5 =46628.5+(385000-204100)*35%
Marginal tax rate 35% =(115193.5-109943.5)/15000
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