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Jurisdiction X levies a flat 14 percent tax on individual income in excess of $35,000 per year. Individuals who earn $35,000 or less pay no
Jurisdiction X levies a flat 14 percent tax on individual income in excess of $35,000 per year. Individuals who earn $35,000 or less pay no income tax.
Required:
- Mr. Hill earned $83,500 income this year. Compute Mr. Hill's income tax and determine average and marginal tax rate.
- Ms. Lui earned $39,800 income this year. Compute Ms. Lui's income tax and determine average and marginal tax rate.
- Ms. Archer earned $29,200 income this year and paid no income tax. Describe Ms. Archer's average and marginal tax rate.
- What type of rate structure does Jurisdiction X use for its individual income tax?
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