Marginal tax rate in KS for single filter is T(I)= 3.1% $0 ≤ I ≤ 15,000 5.25% $15,000 ≤ I ≤ 30,000 5.7% I > 30,000 The standard deduction is $3,000 How much would someone who earns $13,000 a owe in state taxes?
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Marginal tax rate in KS for single filter is
T(I)= 3.1% $0 ≤ I ≤ 15,000
5.25% $15,000 ≤ I ≤ 30,000
5.7% I > 30,000
The standard deduction is $3,000
How much would someone who earns $13,000 a owe in state taxes?
We are going to calculate taxes in dollars to answer this question.
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- How much can a paid tax return preparer be penalized per violation for failure to sign tax returns they prepared? $60 per return, with a maximum of $30,000. $60 per return with no limit per tax preparer. $560 per violation. $560 per violation with no limit per tax preparer.Qs = 0.5P Qd = 45 - 0.25p Suppose a per-unit tax is imposed that reduces the quantity of this whiskey bought and sold in the market to 25 bottles. What is the size of the tax?The two largest sources of tax revenue for theU.S. federal government area. personal and corporate income taxes.b. personal income taxes and payroll taxes for socialinsurance.c. corporate income taxes and payroll taxes forsocial insurance.d. payroll taxes for social insurance and propertytaxes.
- QD = 240 - 5P QS = P where QD is the quantity demanded, QS is the quantity supplied and P is the price. Suppose that the government decides to impose a tax of $12 per unit on sellers in this market. Determine: Producer suprlus after taxQd = 240 - 5p Qs = P Where Qd is the quantity demanded, Qs is the quantity supplied and P is the price. Suppose the government impose a tax of $12 per unit on sellers in the market. Determine; the tax revenue, deadweight loss and total after taxConsider the following tax system: Tax Brackets Marginal Tax Rates 1 0 – 50,000 10% 2 50,000 – 100,000 15% 3 100,000 – 150,000 18% 4 150,000 – 200,000 25% 5 200,000 – 250,000 30% 6 250,000 + 33% Assume that a business executive receives a gross monthly salary of $225,000. i) Calculate the average and marginal tax rates that he/she has to pay. ii) If the NIS, NHT and education tax amounts due at the end of November are $3,125.00, $5,600.08, and $5,040.35 respectively, what amount in net income (after-tax income) should the business executive expect to see on his pay stub. iii) Advise the Minister on the potential benefit of eliminating progressive taxation
- Because of the sales tax in a particular region, a customer in a supermarket must pay $1.46 for a package of candy marked $1.35. What is the effective tax rate on this purchase, expressed as a percentage?TRUE OR FALSE? Any internal revenue tax, which has been assessed within the prescribed limitation period, may be collected by distraint or levy, or by a proceeding in court within five (5) years following the assessment period.Should a per unit tax become more efficient or less efficient as we consider longer time horizons? Why?
- QD = 240 - 5P QS = P where QD is the quantity demanded, QS is the quantity supplied and P is the price. Suppose the government decides to impose a tax of $12 per unit on sellers in this market. Determine: Total surplus after taxWhen an excise tax is levied on sellers and they are responsible for paying the tax to the government, this will have no effect on buyers since they don’t have to directly pay the tax. Select one: True FalseGiven the following information, Qd=240-5p and Qs=P. a.What is sellers reservation price? b.Buyers reservation price? c.Consumer surplus before tax. Producer surplus before tax. Determine buyers price after tax of $12 per unit on sellers in the market. Determine seller's price after tax. Determine quantity after tax of $12. Consumer surplus after tax. Producer surplus after tax. Tax revenue Deadweight loss of the tax Total surplus after tax