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2022 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over: But not over: The tax is: $ 0 $ 10,275 10% of taxable

2022 Tax Rate Schedules

Individuals

Schedule X-Single

If taxable income is over: But not over: The tax is:
$ 0 $ 10,275 10% of taxable income
$ 10,275 $ 41,775 $1,027.50 plus 12% of the excess over $10,275
$ 41,775 $ 89,075 $4,807.50 plus 22% of the excess over $41,775
$ 89,075 $ 170,050 $15,213.50 plus 24% of the excess over $89,075
$ 170,050 $ 215,950 $34,647.50 plus 32% of the excess over $170,050
$ 215,950 $ 539,900 $49,335.50 plus 35% of the excess over $215,950
$ 539,900 $162,718 plus 37% of the excess over $539,900

Schedule Y-1-Married Filing Jointly or Qualifying Widow(er)

If taxable income is over: But not over: The tax is:
$ 0 $ 20,550 10% of taxable income
$ 20,550 $ 83,550 $2,055 plus 12% of the excess over $20,550
$ 83,550 $ 178,150 $9,615 plus 22% of the excess over $83,550
$ 178,150 $ 340,100 $30,427 plus 24% of the excess over $178,150
$ 340,100 $ 431,900 $69,295 plus 32% of the excess over $340,100
$ 431,900 $ 647,850 $98,671 plus 35% of the excess over $431,900
$ 647,850 $174,253.50 plus 37% of the excess over $647,850

Schedule Z-Head of Household

If taxable income is over: But not over: The tax is:
$ 0 $ 14,650 10% of taxable income
$ 14,650 $ 55,900 $1,465 plus 12% of the excess over $14,650
$ 55,900 $ 89,050 $6,415 plus 22% of the excess over $55,900
$ 89,050 $ 170,050 $13,708 plus 24% of the excess over $89,050
$ 170,050 $ 215,950 $33,148 plus 32% of the excess over $170,050
$ 215,950 $ 539,900 $47,836 plus 35% of the excess over $215,950
$ 539,900 $161,218.50 plus 37% of the excess over $539,900

Schedule Y-2-Married Filing Separately

If taxable income is over: But not over: The tax is:
$ 0 $ 10,275 10% of taxable income
$ 10,275 $ 41,775 $1,027.50 plus 12% of the excess over $10,275
$ 41,775 $ 89,075 $4,807.50 plus 22% of the excess over $41,775
$ 89,075 $ 170,050 $15,213.50 plus 24% of the excess over $89,075
$ 170,050 $ 215,950 $34,647.50 plus 32% of the excess over $170,050
$ 215,950 $ 323,925 $49,335.50 plus 35% of the excess over $215,950
$ 323,925 $87,126.75 plus 37% of the excess over $323,925

Jorge and Anita, married taxpayers, earn $155,500 in taxable income and $45,500 in interest from an investment in City of Heflin bonds. (Use the U.S. tax rate schedule for married filing jointly).

Required:

If Jorge and Anita earn an additional $105,500 of taxable income, what is their marginal tax rate on this income?

What is their marginal rate if, instead, they report an additional $105,500 in deductions?

Note: For all requirements, do not round intermediate calculations. Round your answers to 2 decimal places.

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