If your income is $60 000 and your income tax liability is $15 000, your:

Question

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the income tax liability by the income, which in this case is $15 000/$60 000 = 0.25 or 25%. The lump-sum tax rate and proportional tax rate are not applicable in this scenario since they assume a fixed tax amount or a constant tax rate regardless of income level. The marginal tax rate is the rate at which the next dollar of income would be taxed and it is not provided in the given information.

If Your Income Is $60 000 and Your Income Tax