Question

How much taxes do I pay if the taxes are 2.5% and I make 80,000 a year?

Answer 1

Percentage of taxes = 2.5%
Amount of income = $80000
Amount of money paid  = (2.5/100) * 80000
                                                                               = 2.5 * 800
                                                                                 = 2000 
So $2000 is the amount needed to pay taxes every year.