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Government G levies an income tax with the following rate structure: Percentage Rate Bracket 6%Income from 0 to $30,00010Income from $30,001 to $70,00020Income from $70,001
Government G levies an income tax with the following rate structure:
Percentage RateBracket6%Income from 0 to $30,00010Income from $30,001 to $70,00020Income from $70,001 to $200,00028Income in excess of $200,000Required:
- Taxpayer As taxable income is $156,600. Compute As tax and average tax rate. What is As marginal tax rate?
- Taxpayer Bs taxable income is $486,100. Compute Bs tax and average tax rate. What is Bs marginal tax rate?
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