SOLUTION: Use the rates below to find the state income tax for the taxable income for the two problems. Taxable Income | Tax Rate 0 to 3,000 | 2% of taxable income 3

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Question 1196914: Use the rates below to find the state income tax for the taxable income for the two problems.

Taxable Income | Tax Rate
0 to 3,000 | 2% of taxable income
3,001 to 5,000 | $60 + 3% of excess over $3,000
5,001 to 17,000 | $120 + 5% of excess over $5,000
17,001 to 25,000 | $720 + 5.75% of excess over $17,000
1. Taxable income = $14,785. State income tax = ?
A. $489.25
B. $295.70
C. $609.25
D. $443.55

2. Taxable income = $4,269. State income tax = ?
A. $38.07
B. $98.07
C. $85.38
D. $128.07
For the first problem, I got C. For the second, I got B. Would my answers be correct?
Answer by ewatrrr(24785)   (Show Source): You can put this solution on YOUR website!

Hi  
answers  correct:
$120 + $489.25 = $609.25
&
$60 + $37.07 = $98.07
Wish You the Best in your Studies.


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