Given the following tax structure:TaxpayerMaePedroSalary$ 21,500$ 46,000Required:a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid?Note: Round your final answer to nearest whole dollar amount.b. This would result in what type of tax rate structure?Required AComplete this question by entering your answers in the tabs below.Total tax$ 1,032???Required BMinimum taxWhat is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid?Note: Round your final answer to nearest whole dollar amount.< Required ARequired B >

Taxes -Taxes are forced contributions imposed by a local, regional, or federal government on people…

Given the following tax structure: Taxpayer Mae Pedro Salary $ 21,500 $ 46,000 Required: a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount. b. This would result in what type of tax rate structure? Required A Total tax $ 1,032 ??? Complete this question by entering your answers in the tabs below. Required B What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid?

Given the following tax structure: Taxpayer Mae Pedro Salary $ 21,500 $ 46,000 Required: a. What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid? Note: Round your final answer to nearest whole dollar amount. b. This would result in what type of tax rate structure? Required A Total tax $ 1,032 ??? Complete this question by entering your answers in the tabs below. Required B What is the minimum tax that Pedro should pay to make the tax structure vertically equitable based on the tax rate paid?

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter13: Choice Of Business Entity—general Tax And Nontax Factors/formation

Section: Chapter Questions

Problem 38P

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