A person who is in the 15 percent marginal tax bracket and has a total taxable income of $100,000 will owe $15,000 in taxes.

Question

Quizplus · Accepted Answer

The person's marginal tax rate is 15 percent, but that only applies to the portion of their income that falls within that bracket. They will owe less than $15,000 in taxes because some of their income will be taxed at lower rates. The actual amount they owe depends on their specific tax situation, deductions, credits, and other factors.

A Person Who Is in the 15 Percent Marginal Tax