Base price Tax paid
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A: Taxable income refers to an income that is obtained after making adjustments of deductions and…
Q: what would the average tax rate for a person who paid taxes of $6,435 on taxable income of $40,780?
A: Tax Paid = $6,435Taxable Income = $40,780 Calculation of Average Tax Rate:
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A: Marginal tax is the tax which you pay on an additional amount of incomes. This marginal tax is very…
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A: FUTA stands for Federal Unemployment Tax Act. This tax is imposed on employers whose employees leave…
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A:
Q: for Schedule C in individual income tax, how do I calculate the expense for transportation of 5725…
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A: Assessment is the process of estimating the income of the taxpayer for the purpose of calculating…
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A: Introduction The mill rate is based on mills which is derived from Latin word millesimal which…
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A: Goodwill is the amount which occurs when the purchasing company pays more than the company from whom…
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A: SOLUTION TAX BASE OF RECEIVABLES = IF RECEIVES PAYMENT OF RECEIVABLE HAS NO TAX CONSEQUENCES , ITS…
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A: Net income means the profit earned from sale of goods or services after deducting all expenses…
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $6,750 Credit against FUTA…
A: Formula: Net FUTA tax = Gross FUTA tax due - Credit against FUTA
Q: Compute the before-tax revenue if tax rate is 15% and after-tax revenue is 23,800
A: Formula: Revenue before tax= Revenue After Tax(1- Tax rate)
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against FUTA…
A: Formula: Net FUTA tax = Gross FUTA tax due - Credit against FUTA
Q: Complete the following: Tax rate per dollar In percent Per $100 Per $1,000 Mills 0.0956 %
A: given, tax rate per dollar = 0.0956 tax rate in percentage = 0.0956 x 100 tax rate in percentage =…
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A: An income tax is kind a type of tax that governments impose on income generated by businesses and…
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A: Property value= $135000 Assessed value= $47250 equalization factor= 125% tax rate= 25 mills
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A: Given that : Pre-tax book net income 75,000 Tax rate…
Q: EBIT is $12,000 and interest expense is $3,000. If the tax rate is 20%, what is the net income? O…
A: EBIT = $12000 Interest expenses = $3000 Tax rate = 20%
Q: Consider a tax system where the first $40,000 of income is tax free, the next $40,000 is taxed at…
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A: Step wise detail is attached.
Q: What would be the average tax rate for a person who paid taxes of $6,435 on a taxable income of…
A: Calculation of Average Tax Rate:
Q: A single individual pays $7,813 on a taxable income of $47,810 and $7,838 on a taxable income of…
A: Marginal tax rate is the rate on each extra dollar of income earned. It can be calculated as…
Q: Calculate the tax rate if the tax amount is $ 64.50 on a purchase of $780?
A: Tax amount = $64.50 Purchase = $780
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against…
A: FUTA Tax :— It is payroll tax imposed on wages of employees in United States to help fund the…
Q: If you have a taxable income of $372,570.00, what is your total tax bill? $ average tax rate? %
A: Tax is the amount charged by the government to the individual or organizations on the income earned…
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Q: How much tax is withheld from $36,200 if the tax rate is 4%?
A: Withholding of tax implies that the sum a business retains from a representative's wages and pays…
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Q: EBIT is $12,000 and interest expense is $3,000. If the tax rate is 20%, what is the net income? O…
A: Income taxes is the amount of taxes which needs to be paid by the individual or business to the…
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A: Income tax is a tax levied by the central and state government on the total income generated during…
Q: Given the following tax structure, what minimum tax would need to be assesse respect to average tax…
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A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: deducted
A: Introduction: Tax is compulsory levy which is made by the government of all the countries on its…
Q: table is given below shows that marginal tax rates for Alejandro Corporation. Taxable income of the…
A: given taxable income =44000
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- If the sales tax is 6% and the purchase price is $193, what is the amount of tax?Calculate (A) actual sales and (B) sales tax liability:Total sales: $23,152.81 (includes a 5% tax.) (Round your answers to the nearest cent.) A. Actual sales B. Sales tax liabilityWith the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against FUTA (assume applicable) $3,100
- With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against FUTA (assume applicable) $3,100 Group of answer choices $3,100 $7,000 $3,650 $6,750Use the table and find the income tax for an income of 279,000Marginal tax rates Using the tax rate schedule given here, perform the following: a. Find the marginal tax rate for the following levels of sole proprietorship earnings before taxes: $14,700; $59,500; $89,600; $156,000; $247,000; $456,600; and $1 million. b. Plot the marginal tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis).
- Given that your gross income for 2020 was $180,000 and your taxable income was $140,000. Calculate: a. the marginal tax rate b. the average tax rate c. the effective tax rate. SHOW WORKConsider a tax system where the first $40,000 of income is tax free, the next $40,000 is taxed at 10%, and all income above $80,000 is taxed at 20%. 1. Graph the total tax as a function of income. Be sure to label carefully. Тах Income 2. Graph the ATR(average) and MTR(marginal) rate. Label carefully. MTR, ATR 0.40 0.20 0.00 Income 3. Calculate the tax for individuals that earn: $20,000 Tax = ATR = %, MTR = $40,000 Tax = ATR = MTR = $60,000 Tax = ATR = MTR = $80,000 Tax = ATR = MTR = $100,000 Tax = ATR = MTR =Marginal tax rates Using the tax rate schedule attached Perform the following: a. Find the marginal tax rate for the following levels of sole proprietorship earnings before taxes: $16,800; $59,500; $89,600; $151,000; $245,000; $451,200; $1,000,000 b. Plot the marginal tax rates (measured on the y-axis) against the pretax income levels (measured on the x-axis).
- Suppose your annual income is $29182 and there are two tax brackets: 10% for $0-$20,000 and 30% for everything above $20,000. What percentage of your income will you pay in taxes? Enter your answer in decimal.Consider the following data extracted from an after-tax cash flow calculation. Before-Tax-and-Loan = $22,500 Loan Principal Payment = $7,434 Loan Interest Payment = $892 MACRS Deduction = $7,405 Taxes Due = $3,550.75Which of the following is closest to the after-tax cash flow? a. $1,372 b. $8,777 c. $10,623 d. $16,2112. Using the following Income Tax data, and given that your annual income is $ 85,000: a) Calculate the total tax (in $); b) The average tax rate (%); c) The marginal tax rate (%); and d) What is the classification of this taxation system? Income ($) Tax Rate (%) 0- 60 000 60 001 - 70 000 10 70 001 - 100 000 15 Over 100 000 17