Question

Maria has a total tax of $3072 and a gross income of $60449. What is her effective tax rate (as a percent)?

Answer 1

Answer:

Effective tax rate of Maria is 5.08%.

Step-by-step explanation:

Effective tax rate ETR = $\frac{Total tax}{gross income}$

As a percent we can represent ETR = $\frac{Total tax}{Taxable income}$×100

In this question Maria has a total tax = $3072 and gross income = $60449

By putting these values in the formula ETR = $\frac{3072}{60449}$×100 = 5.08

Therefore her effective tax rate is 5.08%.