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How much tax you need to pay on a taxable income of 40,000

User Meabed
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It depends on if you are filing as a single person or married (or jointly), and for which year you are referring to:

2017 RETURNS FILED IN 2018:

Single earning in this tax bracket $37,951 to $91,900, the tax rate is 25%.

Married/Joint earning in this tax bracket $18,651 to $75,900, the tax rate is 15%.


2018 RETURNS FILED IN 2018:

Single earning in this tax bracket $38,701 to $82,500, the tax rate is 22%.

Married/Joint earning in this tax bracket $19,051 to $77,400, the tax rate is 12%.


Hope this helps! :)
User Iamkaan
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