Question

Status

Review
A certain state uses the following progressive
tax rate for calculating individual income tax:
Income
Range ($)
0 - 10,000
10,001 - 50,000
50,001 - 100,000
Progressive
Tax Rate
3%
5%
5.5%
Calculate the state income tax owed on a $50,000
per year salary.
tax = $[?]
Round your answer to the nearest whole dollar amount.
Enter
h

Answer 1

final answer would be $6,550

Explanation:

To calculate the state income tax owed on a $50,000 per year salary, we can use the progressive tax rate provided in the question. We can divide the salary into three ranges, corresponding to the three tax rates:

Income Range: $0 - $10,000

Progressive Tax Rate: 3%

Tax Owed: $0 - $10,000 * 3% = $0 - $300

Income Range: $10,001 - $50,000

Progressive Tax Rate: 5%

Tax Owed: $10,001 - $50,000 * 5% = $500 - $2,500

Income Range: $50,001 - $100,000

Progressive Tax Rate: 5.5%

Tax Owed: $50,001 - $100,000 * 5.5% = $2,750 - $5,500

Thus, the total state income tax owed on a $50,000 per year salary would be $300 + $2,500 + $2,750 = $6,550. This amount should be rounded to the nearest whole dollar amount, so the final answer would be $6,550.