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Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the year was $213,800. Assume the following tax
Maureen Smith is a single individual. She claims a standard deduction of $12,400. Her salary for the year was $213,800. Assume the following tax table is applicable. Single Individuals You Pay This Amount Plus This Percentage on the Percentage on the Average Tax If Your Taxable Income Is Up to $9,875 $9,875-$40,125 $40,125-$85,525 $85,525-$163,300 $163,300-$207,350 on the Base of the Excess over the Rate at Top of Bracket Base Bracket $0.00 10.0% 10.0% 987.50 12.0 11.5 4,617.50 22.0 17.1 14,605.50 24.0 20.4 33,271.50 32.0 22.8 $207,350-$518,400 47,367.50 35.0 30.1 Over $518,400 156,235.00 37.0 37.0 What is her marginal tax rate?
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