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|
Taxable income |
Rate |
|---|---|
| $0 — $9,525 | 10.0% |
| $9,526 — $38,700 | 12.0% |
| $38,701 — $82,500 | 22.0% |
| $82,501 — $157,500 | 24.0% |
| $157,501 — $200,000 | 32.0% |
| $200,001 — $500,000 | 35.0% |
| $500,001 or more | 37% |
Using the previous tax table, compute the tax liability for the individual in the scenario presented, rounding the liability to the nearest dollar. In addition, use the dropdown lists to identify the marginal tax rate and average tax rate for the individual in the scenario.
Juanita’s Tax Scenario
Juanita is a young professional with taxable income of $169,500 as an advertising account executive.
What is Juanita’s total tax liability?
(Note: Round your answer to the nearest cent, if necessary.)
What is Juanita’s top marginal tax rate?
What is Juanita’s average tax rate?
