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 happened to his average tax rate between 2002 and 2003?

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 happened to his average tax rate between 2002 and 2003?

Quizplus · Accepted Answer

In 2002, the tax rate for a taxable income of $35,000 was 15%. In 2003, the tax rate for the same income level decreased to 10%. Therefore, Charles' average tax rate decreased from 15% to 10%.

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