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BUSINESS MATH calculate the state income tax owed on a 50,000 per year salary

BUSINESS MATH calculate the state income tax owed on a 50,000 per year salary-example-1

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Bc your phone has to do so so many people don’t need make it to you so no matter how
User Srinivas Cheruku
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Hello there. To solve this question, we have to remember some properties about income and taxes.

The following table shows the progressive tax rate for calculating individual income tax:

We want to calculate the state income tax owed on a $50,000 per year salary.

For this, notice this value is contained in the interval 17,001 and up, hence the progressive tax rate for this value is 5.75%.

In this case, the tax is simply given by the product between the value and the rate:

Don't forget to divide the percentage value by 100% before multiplying.


50000\cdot(5.75)/(100)=\$2,875

This is the state income tax owed by one whose salary is $50,000 per year.

BUSINESS MATH calculate the state income tax owed on a 50,000 per year salary-example-1
User Will Sargent
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