Table 12-9
United States Income Tax Rates for a Single Individual, 2012 and 2013.
-Refer to Table 12-9. Bill is a single person whose taxable income is $35,000 a year. What is his average tax rate in 2013?

Question

Table 12-9
United States Income Tax Rates for a Single Individual, 2012 and 2013. 
-Refer to Table 12-9. Bill is a single person whose taxable income is $35,000 a year. What is his average tax rate in 2013?

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the total tax paid by the taxable income. For a single person with a taxable income of $35,000 in 2013, the tax brackets would need to be referenced to determine the total tax paid. Based on the 2013 tax brackets, the average tax rate for $35,000 would be approximately 15.3%.

Table 12-9 United States Income Tax Rates for a Single Individual, 2012