The tax liability of a sole proprietorship with ordinary income of $105,000 is closest to ________. Range of taxable income Marginal rate $ 0 to $ 9,525 10% 9,525 to 38,700 12 38,700 to 82,500 22 82,500 to 157,500 24
The tax liability of a sole proprietorship with ordinary income of $105,000 is closest to ________. Range of taxable income Marginal rate $ 0 to $ 9,525 10% 9,525 to 38,700 12 38,700 to 82,500 22 82,500 to 157,500 24
Chapter1: Federal Income Taxation—an Overview
Section: Chapter Questions
Problem 43P
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The tax liability of a sole proprietorship with ordinary income of $105,000 is closest to ________.
Range of taxable income Marginal rate
$ 0 to $ 9,525 10%
9,525 to 38,700 12
38,700 to 82,500 22
82,500 to 157,500 24
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