The Dyrdek Co. had $306,000 in 2014 taxable income. Use the tax rates from Table

Question

The Dyrdek Co. had $306,000 in 2014 taxable income. Use the tax rates from Table.

Taxable Income Tax rate

0-50k 15%

50,001-75k 25%

75,001-100k 34%

100,001-335k 39%

335,001-10,000,000 34%

10,000,001-15,000,000 35%

15,000,001-18,333,333 38%

18,333,334 + 35%

The Dyrdek Co. had $306,000 in 2014 taxable income. Use the tax rates from Table.

Taxable Income Tax rate

0-50k 15%

50,001-75k 25%

75,001-100k 34%

100,001-335k 39%

335,001-10,000,000 34%

10,000,001-15,000,000 35%

15,000,001-18,333,333 38%

18,333,334 + 35%

Explanation / Answer

the total taxable income is $306,000.

as per the tax brackets, the tax is as follows:

the total taxable amount= $102,590

amount slab tax rate tax amount upto 50,000 15% 7500 50k-75k= 25,000 25% 6250 75k-100k- 25,000 34% 8500 100k- 306k= 206,000 39% 80,340

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