Question 1118251: When Sue used the tax table to calculate her income tax payable, it turned out to be $23 097. What was her taxable income?
0–$18 200: Nil
$18 201– $37 000: 19c for each $1 over $18 200
$37 001– $80 000: $3 572 plus 32.5c for each $1 over $37 000
$80 001–$180 000: $17 547 plus 37c for each $1 over $80 000
$180 001 and over: $54 547 plus 45c for each $1 over $180 000
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! her tax was 23,097.
that's greater than 17,547 and less than 54,547.
she has to be in the 80,001 to 180,000 income tax bracket.
in that bracket, the tax is 17,547 + 37 cents for each dollar over 80,000.
let the number of dollars over 80,000 be equal to x.
your equation is 23,097 = 17,547 + .37x.
subtract 17,547 from both sides of the equation to get 23,097 - 17,547 = .37x.
simplify to get 5,550 = .37x
solve for x to get x = 5,550 / .37 = 15,000.
her income had to be 80,000 + 15,000 = 95,000 dollars.
with an income of 95,000, she is in the 80,000 to 18,0000 tax bracket.
her tax is 17,547 + .37 * (95,000 - 80,000) = 17,547 + .37 * 15,000 = 23,097.
it checks out.
her taxable income is 95,000.
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