Use the 2016 marginal tax rates to compute the tax owed by the following couple. A married couple filing jointly with a taxable income of $289,000 and a $8000 tax credit Click the icon to view the 2016 marginal tax rates. The tax owed is $ (Type an integer or decimal. Round to the nearest cent as needed.)

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Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.