Given the following tax structure, what minimum tax would need to be assessed on Shameika to...

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Given the following tax structure, what minimum tax would need to be assessed on Shameika to make the tax progressive with respect to effective tax rates? Muni-Bond Total Taxpayer Salary Interest Tax Mihwah $34,000 $ 34,000 $3,672 Shameika $74,000 42,000??? Minimum tax

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Answer 1

Answer #1

Effective tax rate for Mihwah	5.40%	=3672/(34000+34000)

Tax for Shameika based on effective rate	6264	=(74000+42000)*5.40%

Minimum tax to make tax progressive	6265

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Answer 2

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