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$69,500, married, and no children. What is the state taxable income?

A) $4,537
B) $9,074
C) $6,500
D) $7,000

User Phius
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1 Answer

4 votes

Final answer:

The state taxable income for a married couple with an income of $69,500 and no children is $4,537.

Step-by-step explanation:

The state taxable income for a married couple with no children and an income of $69,500 can be determined using the tax brackets provided:

  • Up to $9,075: 10%
  • $9,076 to $36,900: 12%
  • $36,901 to $89,350: 22%
  • $89,351 to $160,725: 24%
  • $160,726 to $204,100: 32%
  • $204,101 to $510,300: 35%
  • $510,301 and above: 37%

In this case, the income falls within the $39,476 to $84,200 tax bracket. So, the state taxable income would be $69,500 minus the lower limit of the tax bracket ($39,476) multiplied by the tax rate of 12%. Therefore, the state taxable income would be $69,500 - ($39,476 * 0.12) = $4,537.

User Ezgar
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