| An
Example |
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| n | Your
taxable income is $35,000. Your filing status is |
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| single.
How much is your tax liability? |
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| n | Answer: |
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| n | Step
1. Use the table for single filing status. |
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| n | Step
2. Your taxable income is between $30,650 and |
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| $74,200,
so the formula applicable is |
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| $4,220+[25%*(35,000-30,650)]=$4,220+1087.5=$5,307.5 |
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| n | Your
marginal tax rate is 25% |
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