Corporate Income Tax Schedule
Income ($)	Rate (%)
0 - 50,000	15
50,000 - 75,000	25
75,000 - 100,000	34
100,000 - 335,000	39
335,000 - 10,000,000	34
10,000,000 - 15,000,000	35
15,000,000 - 18,333,333	38
Over 18,333,333	35

Calculate the corporate tax on earnings before tax (EBT) of the amounts given below. Use Corporate Income Tax Schedule.

a. $38,000	$
b. $56,000	$
c. $86,000	$
d. $105,000	$
e. $5,160,000	$
f. $14,000,000	$
g. $16,850,000	$
h. $22,500,000	$

The Lindscomb family had the following income in 2012:

Salaries:	Mark	$69,000
	Ashley	51,200

Interest on investments:

??????????????? IBM bonds		$4,750
??????????????? New York City bond		1,400
??????????????? Savings account		2,600

The family made home mortgage payments that included interest of $16,480, and paid real estate (property) tax of $4,320 on the home. They also paid state income tax of $5,860 and donated $1,250 to well-known charities. The Lindscombs have three dependent children. The exemption rate is $3,650 per person. Use Personal Tax Schedules given below.

Single Individuals		?	Married Couples Filing Jointly
Income ($)	Rate (%)	?	Income ($)	Rate (%)
0-8,700	10	?	0-17,400	10
8,700-35,350	15	?	17,400-70,700	15
35,350-85,650	25	?	70,700-142,700	25
85,650-178,650	28	?	142,700-217,450	28
178,650-388,350	33	?	217,450-388,350	33
Over 388,350	35	?	Over 388,350	35

1. Calculate the family's federally taxable income. $ {C}
3. ???
4. What is their tax liability assuming they file jointly as a married couple? Round the answer to the nearest cent. $
6. ???
7. What is the average tax rate? Round the answer to 2 decimal places. What is the marginal tax rate?
9. ???