Solved

A 35 Percent Tax Is Assessed on Income in Excess

Question 56

Multiple Choice

A 35 percent tax is assessed on income in excess of specified levels.Which of the following is not true of the 35 percent bracket?


A) The 35 percent bracket applies to unlimited amounts of income over the specified levels.
B) The level at which a head of household encounters the 35 percent bracket is the same as that for a single individual.
C) The fact that a taxpayer reaches the 35 percent bracket does not affect the amount of tax paid on the income in lower tax brackets.
D) The 35 percent bracket applies to all types or characters of income.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents