Geronimo files his tax return as a head of household for year 2013.If his taxable income is $72,000,what is his average tax rate (rounded) ?
A)17.36%
B)18.24%
C)19.34%
D)25.00%
E)None of these

Question

Quizplus · Accepted Answer

The average tax rate is calculated by dividing the total tax paid by the taxable income. For Geronimo, the total tax paid is $12,554 (calculated using the tax table for 2013). Therefore, the average tax rate is $12,554 / $72,000 = 0.1736, or 17.36% (rounded).

Geronimo Files His Tax Return as a Head of Household