Question

A certain state uses the following progressivetax rate for calculating individual income tax:Income ProgressiveRange ($) Tax Rate0 - 30002%3001 - 5000 3%5001 - 17,000 5%17,001 and up 5.75%Calculate the state income tax owed on a $50,000per year salarytax = $[?]Round your answer to the nearest whole dollar amount

Answer 1

Ok, so the salary is 50,000.

3,000 *2%= 60

2,000*3% = 60

12,000*5% = 600

33,000*5,75% = 1897.5

Total: $2,617.5

Rounding: $2,618

Tax=$2,618