Table 12-12
United States Income Tax Rates for a Single Individual,2002 and 2003.

-Refer to Table 12-12.Charles is a single person whose taxable income is $35,000 a year.What is his average tax rate in 2002?

Question

Table 12-12
United States Income Tax Rates for a Single Individual,2002 and 2003.
 
-Refer to Table 12-12.Charles is a single person whose taxable income is $35,000 a year.What is his average tax rate in 2002?

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the total tax paid by the taxable income. In 2002, for a single person with a taxable income of $35,000, the tax brackets would need to be referenced to determine the total tax paid. Based on historical tax brackets, the average tax rate for this income level would be approximately 18%.

Table 12-12 United States Income Tax Rates for a Single Individual,2002 and Individual,2002