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By Law,the Federal Government Sets the Brackets for the Marginal

Question 48

Multiple Choice

By law,the federal government sets the brackets for the marginal tax rates at:

A) 17% on the first $45 916 of taxable income;24.5% on the next $45 915;32% on the next $50 522;37% on the next $60 447;and a top rate of 45% on his or her income,if any,over $202 800.
B) 15% on the first $45 916 of taxable income;20.5% on the next $45 915;26% on the next $50 522;29% on the next $60 447;and a top rate of 33% on his or her income,if any,over $202 800.
C) 15% on the first $45 000 of taxable income;20.5% on the next $45 000;26% on the next $50 000;29% on the next $60 000;and a top rate of 33% on his or her income,if any,over $200 000.
D) 17% on the first $45 000 of taxable income;24.5% on the next $45 000;32% on the next $50 000;37% on the next $60 000;and a top rate of 45% on his or her income,if any,over $200 000.

Correct Answer: