Using the tax rate schedule presented belom, compute the tolowing Reserve Ratio

Question

Using the tax rate schedule presented belom, compute the tolowing Reserve Ratio 0.0% or more, but less than 1.0% 1.0% or more, but less than 1 .2% 1.2% or more, but less than 1,4% 1.4% or more, but less than 1.0% 1.6% or more, but less than 1.8% 1.8% or more, but less than 2.0% 2.0% or ore, but less than 2.2% 2.2% or more, but less than 2.4% 2.4% or more, but less than 2.6% ) 2.6% or more, but less than 2.8% 2.8% or more, but less than 3.0% 3.0% or more, but less than 3.2% 6.7% 6.4% 6.156 5,5% 4.6% 4.3% 4.0% 3.7% 3.4% 3.1%

Explanation / Answer

a.Smallest contribution that the company can make in order to reduce its tax rate if State A permits voluntary contributions is 3.1%

b.Tax savings realized by the company, taking into consideration the voluntary contribution made in (c) if the taxable payroll in 2017 =650000 X 3.1%=20,150

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