Question
If a person lives in Texas, and has an income less than $40,000, then they pay no taxes, but if their income is at
If a person lives in Texas, and has an income less than $40,000, then they pay no taxes, but if their income is at least $40,000, they pay tax of 15% on income above $40,000. However, if they do not live in Texas, a person filing as single individual pays a flat rate of 32% of income above $42,200. If filing as married couple, they pay flat tax of 28% of income above $75,000. Person Ms Marple Poirot Sherlock Tuppence LOGIC HINT: State Total Income Filing Status CA $ 75,000.00 Single TX $ 80,000.00 Single TX $ 35,000.00 Single, NY $ 110,000.00 Married It would be best to start by checking first if a person lives in Texas or not, since rest of the possible decisions flow from that in this problem. Tax Paid
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
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