Use the 2018 federal income tax brackets and rates in Table 3.3 to answer the following question.

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Use the 2018 federal income tax brackets and rates in Table 3.3 to answer the following question.

Sonja reported a taxable income of $96 300 on her 2018 income tax return. How much federal income tax should she report?


Table 3.3

Taxable Income (income tax brackets) Tax Rates $46 605 or less 15% of taxable income less than or equal to $46 605; plus Over $46 605 up to $93 208 20.5% of taxable income greater than $46 605 and less than or equal to $93 208; plus Over $93 208

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Contemporary Business Mathematics With Canadian Applications

ISBN: 9780135285015

12th Edition

Authors: Ali R. Hassanlou, S. A. Hummelbrunner, Kelly Halliday

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