Question The tax rates for a particular year are shown below: Taxable IncomeTax Rate$0 – 50,000 15%50,001 – 75,000 25%75,001 – 100,000 34%100,001 – 335,000 39% What is the average tax rate for a firm with taxable income of$122,513?

SRYUHV The Asker · Finance

The tax rates for a particular year are shown below:

Taxable Income Tax Rate
$0 – 50,000 15 %
50,001 – 75,000 25 %
75,001 – 100,000 34 %
100,001 – 335,000 39 %


What is the average tax rate for a firm with taxable income of $122,513?

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Community Answer
4FZPFI

Taxable liability for firm-1,22,513 Total tax-  On first 100000= (50,000*15%)+(25000*25%)+(25000*34%)= (7500+6250+8500)= 22250 On Next 22513= ... See the full answer