Question

A taxpayer faces the following tax rates on her income: 20 percent of the first $40,000 of her income; 30 percent of all her income above $40,000. The taxpayer faces:
a. an average tax rate of 22.5 percent when her income is $30,000.
b. an average tax rate of 22.0 percent when her income is $50,000.
c. a marginal tax rate of 10 percent when her income rises from $40,000 to $40,001.
d. a marginal tax rate of 50 percent when her income rises from $60,000 to $60,001.

Answer 1

When the taxpayer earns $50,000, she is subject to the an average rate of taxes of 22.0 percent.

What payment is a tax?

Tax Payments are cash payments for federal, state, and municipal I income, franchise, and other comparable taxes and levies levied on or measured by net income and paid or paid by or for behalf of the borrowers and its businesses or directly attributable.

What is basic tax?

A whole number of assets or earnings that can be collected by a taxing body, typically the government, is referred to as the tax base. It is employed to figure out tax obligations. This can take many different forms, such as money or real estate.

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