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Clearly show step by step process and highlight final answer for full credit. Using the 2018 state tax bracket on Blackboard, determine how much Justin

Clearly show step by step process and highlight final answer for full credit.

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Using the 2018 state tax bracket on Blackboard, determine how much Justin owes in state taxes if his gross pay is $63,999. Assume he is single and lives in New Mexico. Federal 2018 Tax Bracket Individual Taxpayers If Taxable Income Is Between: The Tax Due Is: 0 - 9,525 10% of taxable income $9,526 - $38,700 $952.50 + 12% of the amount over $9,525 $38,701 - $82,500 $4.453.50 + 22% of the amount over $38,700 $82,501 - $157,500 $14,089.50 + 24% of the amount over $82,500 $157,501 - $200,000 $32,089.50 + 32% of the amount over $157,500 $200,001 - $500,000 $45,689.50 + 35% of the amount over $200,000 $500,001 + $150,689.50 + 37% of the amount over $500,000 i Single $12,000 Married Filing Jointly & Surviving Spouse $24,000 Married Filing Separately $12,000 Head of Household $18,000 e Federal Personal exemption eliminated in 2018 Tax Bracket Tax Rate Standard Deduction (Single) Standard Deduction (MFJ) Personal Exemption Dependant Exemption $12,000.00 $24,000.00 $4,050.00 $4,050.00

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