What would be the marginal and average tax rates for a corporation with an income level...

What would be the marginal and average tax rates for a corporation with an income level of $85,000? (Do not round intermediate calculations. Enter the marginal tax rate as a whole percent. Enter the average tax rate as a percent rounded to 2 decimal places.)

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jeff jeffy answered 1 month ago

Define and Discuss Average and Marginal Tax rates

In 1986, the U.S. federal income tax system changed marginal tax rates so that the marginal...

In 1986, the U.S. federal income tax system changed marginal tax rates so that the marginal tax rate fell from 50 to 33 percent. Given the fact that employment based health insurance is tax exempted, how will this affect the demand for health insurance for employees with compensation of $6000 a month and cost of insurance being $100? Support your answer with calculations.

Which statement is correct with respect to marginal and average tax rates under a progressive tax...

Which statement is correct with respect to marginal and average tax rates under a progressive tax structure? Multiple Choice Generalizations cannot be made. The question can only be answered with reference to the tax situation of a specific taxpayer. At very low levels of taxable income, a taxpayer's marginal and average tax rates will be the same. At very high levels of taxable income, a taxpayer's marginal and average tax rates will be the same. For most taxpayers, the average...

Calculation of Social Security Tax and Marginal, Average and Effective Tax Rates on Social Security Taxes...

Calculation of Social Security Tax and Marginal, Average and Effective Tax Rates on Social Security Taxes (LO. 1) Rory earns $70,000 per year as a college professor. Latesia is a marketing executive with a salary of $140,000. With respect to the Social Security tax (OASDI: 6.2%; MHI: 1.45%) calculate the following: (Hint: OASDI 6.2% tax is only on max of $128,400 for the year.) When required, round the total taxes to two decimal places. a. Rory's total FICA taxes: $...

Based on the following table of the tax rates, what is the average tax rate for a firm with taxable income of $120,000?

Based on the following table of the tax rates, what is the average tax rate for a firm with taxable income of $120,000?Taxable Income ($)Tax Rate0 – 50,00015%50,000 – 75,00025%75,000 – 100,00034%100,000 – 335,00039%39%20%34%25%None of the above

Given the following rates for the income tax, calculate this person's average tax rate for a...

Given the following rates for the income tax, calculate this person's average tax rate for a taxable income of $70,000 Please show your work Income bracket Marginal tax rate $0- $10,000 10% $10,000 - $30,000 20% $30,000 - $60,000 25% $60,000 - $80,000 30% Over $100,000 40%

How would raising marginal tax rates (lowering the wage)affect low-income workers differently than high- income workers?

Tax Liability Calculation, Marginal and Average Tax Rates for Various Filing Status (LO. 1) A taxpayer...

Tax Liability Calculation, Marginal and Average Tax Rates for Various Filing Status (LO. 1) A taxpayer has $95,000 of taxable income for the current year. Determine the total tax, the marginal tax rate, and the average tax rate if the taxpayer is a a. Single individual b. Married couple filing jointly c. Corporation Do not round intermediate computations. Round total taxes to two decimal places. When required, round tax rates to two decimal places. Refer to the tax rate schedule...

Exercise 3-20 (Algorithmic) (L0,6) Compute the 2020 tax liability and the marginal and average tax rates...

Exercise 3-20 (Algorithmic) (L0,6) Compute the 2020 tax liability and the marginal and average tax rates for the following taxpayers Click here to access the 2020 tax rate schedule. If required, round the tax liability to the nearest dollarWhen required round the average rates to four decimal places before converting to a percentage (i.e..67073 would be rounded to - 6707 and entered as 67.07%). a. Chandler, who files as a single taxpayer , has taxable income of 5127,600. Tax liability:...

a corporation with a marginal tax rate 34 percent would receive what after tax dividend yeild...

a corporation with a marginal tax rate 34 percent would receive what after tax dividend yeild on a 12 percent coupon rate preferred stock bought at par asuming a 70 percent dividend exclusion

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