Question

Determine the average amount of taxable income per tax return, for each of the ranges of taxable income provided, using the information in the below table. Taxable Income and Total Tax Liability are

Answer 1

The average amount of taxable income per tax return is $0.536 for $50,000 or less, $0.896 for $50,001 - $75,000, $1.881 for $75,001 - $100,000, $3.275 for $100,001 - $200,000, $15.815 for $200,001 - $500,000, and $132.779 for over $500,000.

How is that so?

In consideration of determining the average amount of pay after deductions per tax form, each of the ranges of pay after deductions supported, utilizing the news in the table given, we need to find the center of each range of total income earned. average amount of pay after deductions per tax form.

The table accompanying ranges of pay after deductions and their equivalent Total Tax Responsibility is proved beneath:

Ranges of Pay after deductions | Total Tax Responsibility

$50,000 or less | $3,890

$50,001 – $75,000 | $7,484

$75,001 – $100,000 | $11,954

$100,001 – $200,000 | $30,951

$200,001 – $500,000 | $78,281

Over $500,000 | $152,789

The midpoints of the ranges of total income earned are in this manner:

• $50,000 or less: $25,000 ($0-$50,000)
• $50,001 – $75,000: $62,500 ($50,001-$75,000)
• $75,001 – $100,000: $87,500 ($75,001-$100,000)
• $100,001 – $200,000: $150,000 ($100,001-$200,000)
• $200,001 – $500,000: $350,000 ($200,001-$500,000)
• Over $500,000: $750,000 ($500,001 and above)

Immediately, we will separate the Total Tax Responsibility ceremony of tax returns to find the average amount of total income earned per tax form in this manner:

• $50,000 or less: $3,890 ÷ 7,250 = $0.536
• $50,001 – $75,000: $7,484 ÷ 8,350 = $0.896
• $75,001 – $100,000: $11,954 ÷ 6,350 = $1.881
• $100,001 – $200,000: $30,951 ÷ 9,450 = $3.275
• $200,001 – $500,000: $78,281 ÷ 4,950 = $15.815
• Over $500,000: $152,789 ÷ 1,150 = $132.779

Thus, the average amount of total income earned per tax form each of the ranges of pay after deductions supported are:

• $0.536 for $50,000 or less
• $0.896 for $50,001 – $75,000
• $1.881 for $75,001 – $100,000
• $3.275 for $100,001 – $200,000
• $15.815 for $200,001 – $500,000
• $132.779 for Over $500,000.

Determine the average amount of taxable income per tax return, for each of the ranges of taxable income provided, using the information given below:

• $50,000 or less
• $50,001 – $75,000
• $75,001 – $100,000
• $100,001 – $200,000
• $200,001 – $500,000
• Over $500,000.