Jordan and Paul,a married couple,have taxable income of $46,625,which is taxed as follows: $\begin{array}{lr}
\$ 18,650 \times 10 \%=&\$1,865.00\(\$ 46,625-\$ 18,650) \times 15 \%=&4,196.25\\text { Total tax liability }&\$6,061.25
\end{array}$
Their marginal tax rate is:

Question

Jordan and Paul,a married couple,have taxable income of $46,625,which is taxed as follows: $\begin{array}{lr}
\$ 18,650 \times 10 \%=&\$1,865.00\(\$ 46,625-\$ 18,650) \times 15 \%=&4,196.25\\text { Total tax liability }&\$6,061.25
\end{array}$
 Their marginal tax rate is:

Quizplus · Accepted Answer

The marginal tax rate is the rate at which the last dollar of income is taxed. In this scenario, the income above $18,650 is taxed at 15%, making 15% their marginal tax rate.

Jordan and Paul,a Married Couple,have Taxable Income of $46,625,which Is