Table 18-6
Table 18-6 shows the income tax brackets and tax rates for single taxpayers in Monrovia.
-Refer to Table 18-6.Calculate the income tax paid by Sylvia,a single taxpayer with an income of $70,000.

Question

Table 18-6
  Table 18-6 shows the income tax brackets and tax rates for single taxpayers in Monrovia.
-Refer to Table 18-6.Calculate the income tax paid by Sylvia,a single taxpayer with an income of $70,000.

Quizplus · Accepted Answer

According to Table 18-6, the income tax rate for income between $39,475 and $84,200 is 22%. To calculate Sylvia's income tax:
- Subtract the upper bound of the previous tax bracket ($39,475) from her income ($70,000): $70,000 - $39,475 = $30,525
- Multiply this difference by the tax rate (0.22): $30,525 x 0.22 = $6,715.50
- Add the flat amount of the previous tax bracket ($4,015): $6,715.50 + $4,015 = $10,730.50
Therefore, Sylvia would pay $10,730.50 in income tax.

Table 18-6 Table 18-6 Shows the Income Tax Brackets and Brackets