How much income tax must the Benton Trust pay in 2018 if its taxable income (after all deductions) is $4,600?
A) $460
B) $690
C) $747
D) $1,240

Name: How much income tax must the Benton Trust pay in 2018 if its taxable income (after all deductions) is $4,600? A) $460 B) $690 C) $747 D) $1,240
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Question

Quizplus · Accepted Answer

The Benton Trust is a trust, so it is taxed at the same rates as individuals. The taxable income of $4,600 falls into the 15% tax bracket, so the Benton Trust must pay $747 in income tax.

How Much Income Tax Must the Benton Trust Pay in 2018