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(Solved): Using Table 36, calculate the marginal and average tax rates for a single taxpayer with the followi ...
Using Table 36, calculate the marginal and average tax rates for a single taxpayer with the following incomes: (Do not round intermediate calculations. Round your answers to 1 decimal place.)
TABLE 3.6 Personal tax rates, 2022
Expert Answer
Income Marginal Tax rate Average tax rate a 21500 12% 11.1% b 53000 22% 14.0% c 303000 35% 34.9% d 3300000 37% 34.3% e Tax Slab Tax rate on income slab tax on income slab A- 0-9950 9950*10% 995 21500-9950 (21500-9950)*12% 1386 total taxes paid 2381 a