Question

how do you calculate the total percentage of income for taxes

Answer 1

Answer:

I think you are supposed to Divide taxes based off net profit to calculate the effective tax percentage.

Step-by-step explanation:

In the example, $35,000 divided by $100,000 equals an effective tax rate of 0.35 or 35 percent.

hope this helps! :)

(i don't know if this is 100% correct just so you know)