Answer:
The percentage rate of the federal tax be 26.36 % and the amount of the federal tax be $ 65898.5 .
Step-by-step explanation:
As given
if you make a gross salary of $250,000 per year.
Tax bracket rate is 33% .
Tax rate is $46,643 plus 33% of the excess over $191,650 .
33% is written in the decimal form .
![= \frac{33}{100}](https://tex.z-dn.net/?f=%3D%20%5Cfrac%7B33%7D%7B100%7D)
= 0.33
Amount of gross salary over $191,650 = Gross salary - $191,650
= $250,000 - $191650
= $ 58350
Thus
33% of Amount over $191,650 = 0.33 × Amount of gross salary over $191,650 .
= 0.33 × $ 58350
= $ 19255.5
Thus
Total federal tax = $46,643 + 33% of Amount over $191,650 .
= $46,643 + $ 19255.5
= $ 65898.5
Formula
![Percentage = \frac{Part\ value\times 100}{Total\ value}](https://tex.z-dn.net/?f=Percentage%20%3D%20%5Cfrac%7BPart%5C%20value%5Ctimes%20100%7D%7BTotal%5C%20value%7D)
Here
Part value = $65898.5
Total value = $250,000
Putting the values in the above
![Percentage = \frac{65898.5\times 100}{250000}](https://tex.z-dn.net/?f=Percentage%20%3D%20%5Cfrac%7B65898.5%5Ctimes%20100%7D%7B250000%7D)
Percentage = 26.36 %
Therefore the percentage rate of the federal tax be 26.36 % .