Table 20.1 : The table shows the taxable income range and marginal tax rates for a single taxpayer in Oceania.There are no exemptions or deductions on personal income taxes in Oceania.
-Refer to Table 20.1. George is a single taxpayer with an income of $65,000. What is George's marginal tax rate?

Question

Table 20.1 :  The table shows the taxable income range and marginal tax rates for a single taxpayer in Oceania.There are no exemptions or deductions on personal income taxes in Oceania.
-Refer to Table 20.1. George is a single taxpayer with an income of $65,000. What is George's marginal tax rate?

Quizplus · Accepted Answer

The marginal tax rate is the rate at which the last dollar of income is taxed. For a single taxpayer with an income of $65,000, the marginal tax rate is typically around 27% based on common tax brackets.

Table 201 : the Table Shows the Taxable Income Range