Table 12-9
The table below shows the marginal tax rates for an unmarried taxpayer for various levels of taxable income.

-Refer to Table 12-9.For this tax schedule,what is the marginal tax rate for an invidvidual with $212,000 in taxable income?

Question

Table 12-9
The table below shows the marginal tax rates for an unmarried taxpayer for various levels of taxable income.
 
-Refer to Table 12-9.For this tax schedule,what is the marginal tax rate for an invidvidual with $212,000 in taxable income?

Quizplus · Accepted Answer

Looking at the table, we see that taxable income between $157,501 and $200,000 has a marginal tax rate of 35%. The next bracket, which includes incomes from $200,001 to $500,000, has a marginal tax rate of 45%. Therefore, since $212,000 falls in the second bracket, the marginal tax rate for an individual with $212,000 in taxable income is 45%.

Table 12-9 the Table Below Shows the Marginal Tax Rates for an for an Unmarried