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In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 +5% of excess over $5,000. You would have paid $370 taxes. If you made $30,000 in income in 2019, you paid $720 +5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virginia Denartment of Taxation O progressive excise O regressive O supply-side Question 45

In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 +5% of excess over $5,000. You would have paid $370 taxes. If you made $30,000 in income in 2019, you paid $720 +5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virginia Denartment of Taxation O progressive excise O regressive O supply-side Question 45

Principles of Microeconomics (MindTap Course List)
Principles of Microeconomics (MindTap Course List)
8th Edition
ISBN:9781305971493
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter12: The Design Of The Tax System
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Question 44 In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 +5% of excess over $5,000. You would have paid $370 taxes. If you made $30,000 in income in 2019, you paid $720 +5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virginia Department of Taxation O progressive O excise O regressive O supply-side Question 45
Transcribed Image Text:Question 44 In Virginia, in 2019, if you made $10,000 a year in income, you paid $120 +5% of excess over $5,000. You would have paid $370 taxes. If you made $30,000 in income in 2019, you paid $720 +5.75% of excess over $17,000. You would have paid $1,476.50 in taxes. What kind of tax is implemented on your income in Virginia? Information from the Virginia Department of Taxation O progressive O excise O regressive O supply-side Question 45
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