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A company's before-tax earnings for the first year are 90,000. Calculate the tax of these earnings using table. Please show calculations. PARTO TABLE 1.2 2018
A company's before-tax earnings for the first year are 90,000. Calculate the tax of these earnings using table. Please show calculations.
PARTO TABLE 1.2 2018 Tax Rate Schedule for Single Taxpayer Tax calculation (Marginal rate X amount over bracket Base tax + Taxable income brackets lower limit) 0 $ 9,525 $ + to $ (10% X amount over 0) 9,525 38,700 $ 953 + (12% X amount over $ 9,525) 38,700 82,500 $ 4,454 + (22% X amount over $ 38,700) 82,500 157,500 $ 14,090 + (24% X amount over $ 82,500) 157,500 to 200,000 $ 32,090 + (32% X amount over $157,500) 200,000 500,000 $ 45,690 + (35% X amount over $200,000) Over 500,000 $150,690 + (37% X amount over $500,000) to to to esident or chief executive icer (CEO) The president or chief executive officer (CEO) is responsible for managing day to day oneratis
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