In reviewing the tax rate schedule for a single taxpayer, chuck notes that the tax on $75,000 is $5,226.25 plus 25 percent of the taxable income over $37,950. what does the $5,226.25 represent?

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21 March, 08:37

In reviewing the tax rate schedule for a single taxpayer, chuck notes that the tax on $75,000 is $5,226.25 plus 25 percent of the taxable income over $37,950. what does the $5,226.25 represent?

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Korbin Wise · Answer 1

931, 14 $ 25. 931, 4 ($ - - = 25.00% (36) [LO3] In reviewing the tax rate schedule for a single taxpayer, Chuck notes that the tax on $75,000 is $4,681.25 plus 25 percent of the taxable income over $34,000. What does the $4,681.25 represent? The $4,681.25 represents the income tax on $34,000 i. e., $837.5 + 15% ($34,000 ...