Question

Jason Jones earns $55,000.00 and is married. The tax rate is 3%.
Calculate the tax. Federal exemption is $3300.00

Answer 1

hmmm if the Federal exemption is 3300, sounds to me that the taxable amount is just 55000 - 3300, or 51700.

whatever% of anything is just (whatever/100) * anything.

therefore 3% of 51700 is just (3/100) * 51700.

Answer 2

Answer:  The required tax is $1551.00.

Step-by-step explanation:  We are given that Jason Jones earns $55,000.00 and is married and the tax rate is 3%.

We are to calculate the tax, where the federal exemption is $3300.00.

According to the given information, the taxable amount is given by

$T.A.=55000.00-3300.00=51700.00.$

Since the tax rate is 3%, so the total tax is given by

$Tax=3\%\times 51700.00=\dfrac{3}{100}\times51700.00=1551.00.$

Thus, the required tax is $1551.00.