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Irina18 [472]
2 years ago
5

It is 1902. I make $45,000 per year (I am rich). How much do I owe in FEDERAL income taxes? ________________ Where is this addre

ssed?
History
1 answer:
Norma-Jean [14]2 years ago
7 0

The amount that we owe in Federal Income taxes is $1,350.

<h3>What is a Federal income tax?</h3>

The federal income tax is a tax payable on Income earned in affiliation with federal salary, wage etc.

The tax rate for Federal income which is lesser than $20,000 is 2.0% while 3.0% for Income less than $50,000.

Hence, for $45,000, the tax rate of 3% will be applied.

Tax amount = Taxable income * Tax rate

Tax amount = $45,000 * 3%

Tax amount = $1,350.

in conclusion, the amount that we owe in Federal Income taxes is $1,350.

Read more about Tax rate

brainly.com/question/3051659

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