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A. 7.9% B. 13.5% C. 23.0% D. 30% If taxable income is But not Over over- Tax is: of the amount over $2,300 $0 $2,300
A. 7.9%
If taxable income is But not Over over- Tax is: of the amount over $2,300 $0 $2,300 -0- 2,300 3,400 ----11% 2,300 3,400 4400 $121-12% 3,400 4,400 6,500 241+14% 4,400 6,500 8,500 535+15% 6,500 8,500 10,800 835+16% 8,500 12,900 1,203+18% 10,800 10,800 12,900 15,000 1.581+20% 12.900 15,000 2,001+23% 15.000 18,200 23,500 2.737+26% 18.200 18,200 23,500 28,800 4,115+30% 23,500 28.800 34,100 X + 34% 28,800 34.100 41.500 7,507438% 34,100 41,500 55.300 10.319-42% 41,500 81.800 55,300 55,300 81,800 16.115+48% 28,835-50% 81.800 Lizzo has adjusted gross income of $26,000 and taxable income of $15,200. What is Lizzo's marginal tax rate (to the nearest tenth of a percent)? 0.79% 13.5% 23.0% B. 13.5%
C. 23.0%
D. 30%
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