What is the maximum tax rate for estates and trusts under the Tax Cuts and Jobs Act?
A: 15%.
B: 33%.
C: 37%
D: 39.6%.
Answer is as under : | |
Option D : 39.6 % | |
Reason : | |
It is assume that the question is with referecne to FY 2017 . For the year 2017, slab rate for estate and trusts is as under as per the TAX and JOBS Act : | |
If taxable income is: | The tax is: |
Less than $2,550 | 15% of taxable income |
Over $2,550 but Less than $6,000 | $382.50 plus 25% of the excess over $2,550 |
Over $6,000 but Less than $9,150 | $1,245 plus 28% of the excess over $6,000 |
Over $9,150 but Less than $12,500 | $2,127 plus 33% of the excess over $9,150 |
Over $12,500 | $3,232.50 plus 39.6% of the excess over $12,500 |
What is the maximum tax rate for estates and trusts under the Tax Cuts and Jobs...
What is the maximum tax rate for estate and trust under the tax cuts and jobs act
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