A certain state uses the following progressive tax rate for calculating individual income tax:
1 answer:
9514 1404 393
Answer:
$2618
Step-by-step explanation:
The total tax due will be the sum of the amounts due in each bracket.
2%×$3000 +3%×(5000 -3000) +5%×(17000 -5000) +5.75%×(50000 -17000)
= 60 +60 +600 +1897.50 = $2617.50 ≈ $2618
The state income tax on $50,000 is $2618.
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