taylorchilders151 taylorchilders151
  • 26-02-2021
  • Mathematics
contestada

Calculate the state income tax owed on a $90,000
per year salary.
tax = $[?]

Calculate the state income tax owed on a 90000 per year salary tax class=

Respuesta :

km022
km022 km022
  • 26-02-2021

Answer:

$4918

Step-by-step explanation:

first income must be divided according to tax bracket

2% tax on first 3000 income= 2% of $3000=$60

3% tax on income after first 3000 but upto 5000= 5000-3000= $2000

=3% of 2000= $60

5% tax on income after second 5000 but upto 12000= 17000-5000

=12000 5% of $12000= $600

Lastly, 5.75% income over 17000=

90000-17000= $73000 so, 5.75 % of 73000= $4197.5

tax= $60+60+600+4197.5

= $4917.5

= $4918

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