The state of Michigan had a 2004 flat tax rate of 3.9% of taxable income.
a. Find the tax owed on a taxable income of $5700. Compare this value to the tax owed on the same amount in the state of Connecticut (found in Exercise 23)
b. Find the tax owed on a taxable income of $43,000. Compare this value to the tax owed on the same amount in the state of Connecticut (found in Exercise 23).
c. Write a formula defining a linear function T(I) … that gives tax owed in Michigan as a function of taxable income.
d. For what incomes would a taxpayer in Michigan pay more tax than a comparable taxpayer in Connecticut? For what incomes would the Michigan taxpayer pay less?
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