This table shows the 2014 tax brackets for single taxpayers.
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Single Taxpayers (2014)
Taxable Income Between: Tax Rate
$0 l $9,075 l 10%
$9,075 l $36,900 l 15%
$36,900 l $89,350 l 25%
$89,350 l $186,350 l 28%
$186,350 l $405,100 l 33%
$405,100 l $406,750 l 35%
$406,750 l and above l 39.6%
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Phung works as a pharmacist in Tampa, Florida. Her income is $116,200 a year.
Which statements about Phung’s income and tax situation are correct? Check all that apply.
1.) Phung will pay 28% of her total income in state taxes.
2.) The first $9,075 she makes each year will be taxed at 10%.
3.) Portions of Phung’s income will be taxed at 10%, 15%, 25%, and 28%.
4.) Phung will pay 28% of her total income in federal taxes.
5.) After $36,000, Phung’s taxable income will experience the greatest tax bracket increase.
(Economics)
