You have the following data: The net income after tax is 42000 OMR and income tax is 3000 OMR. Calculate the net income before tax
Q: A person works and earns $ 2,535.00, but on a pay stub pays 6.5% to tax. How much money is left over…
A: Income tax is a liability of every individual toupee to the government on the basis of their taxable…
Q: The tax on a property with an assessed value of $70,000 is $1,100. What is the assessed value of a…
A: Property taxes are calculated using the value of the property. This includes both the land and the…
Q: what would the average tax rate for a person who paid taxes of $6,435 on taxable income of $40,780?
A: Tax Paid = $6,435Taxable Income = $40,780 Calculation of Average Tax Rate:
Q: Use the 2019 U.S. federal tax rates in the table to calculate answers to the questions below. Give…
A: In order to determine the average tax rate, the total tax paid is required to be divided by the…
Q: What would be the effective marginal tax rate on your last dollar of earnings?
A: The effective marginal tax rate comprises of all the effective tax rates.
Q: The marginal tax rate is equal to Question 11 options:the change in the tax payment divided by the…
A: Marginal tax is the tax which you pay on an additional amount of incomes. This marginal tax is very…
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against…
A: FUTA stands for Federal Unemployment Tax Act. This tax is imposed on employers whose employees leave…
Q: Using the corporate tax rate schedule given in Table 2.1, perform the following: a. Calculate the…
A: Taxes are generally paid on the income earned by an entity. Different types of taxes are levied on…
Q: John's Market is assessed for $99,314. The current tax rate is 85.96 per $1426 of assessed value.…
A: Assessment is the process of estimating the income of the taxpayer for the purpose of calculating…
Q: How much must Deon pay in income tax for last year?
A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…
Q: You have some property which has an assessed value of $240,900. If the tax rate is 56.40 mills,…
A: Introduction The mill rate is based on mills which is derived from Latin word millesimal which…
Q: If Cleveland Motors Had an EBIT of $22,858,800, Interest of $7,394,600 and is taxed at an average…
A: Given: EBIT is $22, 858,800 Interest is $7, 394,600 Tax 32%
Q: How much is the income tax expense/(benefit) for the third quarter? (NOTE: If your answer is an…
A: Formula: Income tax expense amount = Net income x Tax rate
Q: Which of the following Excel functions can you apply to determine a deduction amount using the…
A: Tax is the amount taken by the government on the income of individuals. Tax is charged from…
Q: How much is the net income after income tax provision at December 31, 2003?
A: We need to calculate income tax provision first to find out net income after tax provision.
Q: I need step by step instructions for the problem e) what is the average income tax rate?** I know…
A: For computing the Average income tax rate, the income tax expenses shall be divided by Net income…
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $6,750 Credit against FUTA…
A: Formula: Net FUTA tax = Gross FUTA tax due - Credit against FUTA
Q: Last year Diana's annual income was $31,305. Use the following Income Tax relationship to calculate…
A: Income tax is the tax imposed by the tax authority on the income of individual and other income…
Q: Compute the before-tax revenue if tax rate is 15% and after-tax revenue is 23,800
A: Formula: Revenue before tax= Revenue After Tax(1- Tax rate)
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against FUTA…
A: Formula: Net FUTA tax = Gross FUTA tax due - Credit against FUTA
Q: Complete the following: Tax rate per dollar In percent Per $100 Per $1,000 Mills 0.0956 %
A: given, tax rate per dollar = 0.0956 tax rate in percentage = 0.0956 x 100 tax rate in percentage =…
Q: What is the annual real estate tax on a valued at $135,000 and assessed for tax purposE at $47,250…
A: Property value= $135000 Assessed value= $47250 equalization factor= 125% tax rate= 25 mills
Q: Based on the following data, calculate the items requested: Rental Costs Buying Costs Annual…
A: Capital budgeting involves evaluation of various options available for Investments or projects. It…
Q: Assuming the following facts, calculate the total tax provision Sales…
A: Given that : Pre-tax book net income 75,000 Tax rate…
Q: EBIT is $12,000 and interest expense is $3,000. If the tax rate is 20%, what is the net income? O…
A: EBIT = $12000 Interest expenses = $3000 Tax rate = 20%
Q: In 2013, the Lenders collected $2,800,000 in taxable income. What was their total tax expense for…
A: Income tax: Income tax is the tax that an individual is responsible for on their earned income. It…
Q: On Taxable Income... The Tax Rate Is... Up to €7,150 10% From €7,150 to €29,050 15% From €29,050 to…
A: Income Tax - It is an amount imposed by the government on individual or non individual in respect of…
Q: Base price Tax paid
A: Base price = Amount paid including tax * 100/(1 + Tax rate)
Q: Consider a tax system where the first $40,000 of income is tax free, the next $40,000 is taxed at…
A: Here discuss about the details of average tax rate, marginal tax rate and taxes which are involved…
Q: Keshara has the following net § 1231 results for each of the years shown: Tax Year Net § 1231 Loss…
A: Amount treated as long term capital gain = Cumulative total of net 1231 gain - Cumulative total of…
Q: Use the 2016 marginal tax rates to compute the tax owed by the following person. A single man with a…
A: A tax credit seems to be a sum of cash that can be deducted from the total amount of tax due and…
Q: The following table shows tax due for the given taxable income level for a single taxpayer. Taxable…
A: Step wise detail is attached.
Q: The tax liability this year is $ (Round to the nearest dollar.)
A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…
Q: (To help answer this question, create an Income Taxes Payable T-account and insert the beginning…
A: Income tax payable is a type of account in the current liabilities section of a company's balance…
Q: What would be the average tax rate for a person who paid taxes of $6,435 on a taxable income of…
A: Calculation of Average Tax Rate:
Q: suppose that the first $ 5000 income earned is not taxed at all, the next $ 10000 earned is taxed at…
A: Marginal tax is calculated by multiplying the tax rate with the income.
Q: With the following data, compute the NET FUTA Tax. Gross FUTA Tax DUE $ 6,750 Credit against…
A: FUTA Tax :— It is payroll tax imposed on wages of employees in United States to help fund the…
Q: If you have a taxable income of $372,570.00, what is your total tax bill? $ average tax rate? %
A: Tax is the amount charged by the government to the individual or organizations on the income earned…
Q: Given the following tax structure, what minimum tax would need to be assesse respect to average tax…
A: The average tax rate is calculated by dividing the total tax paid by the taxable income. While…
Q: EBIT is $12,000 and interest expense is $3,000. If the tax rate is 20%, what is the net income? O…
A: Income taxes is the amount of taxes which needs to be paid by the individual or business to the…
Q: How much is the income tax payable on the 4th quarter?
A: Solution:- Given, ABC Corporation's RCIT, MCIT, excess MCIT and excess withholding taxes from prior…
Q: Given the following tax structure, what minimum tax would need to be assesse respect to average tax…
A: A federal tax on taxable income that applies if deductions and adaptions to income reduce the…
Q: The tax liability for earnings before taxes of $81,300 is $ (Round to the nearest dollar.)
A: The total amount of tax debt owed by an individual, corporation, or other entity to a taxing…
Q: How do I calculate the before-tax total amount if the tax is 40% and after-tax amount is 1255162.00?…
A: Tax amount reduced from the before tax amount results in after tax amount. The given tax rate is…
Q: table is given below shows that marginal tax rates for Alejandro Corporation. Taxable income of the…
A: given taxable income =44000
Q: If net income after tax is 60000 OMR, tax is 2000 OMR, interest is 1500 OMR, depreciation is 1500…
A: EBITDA stands for "Earnings before interest, taxes, depreciation, and amortization. It is that…
Step by step
Solved in 2 steps
- What amount is payable to a state tax board if the original sales price is $3,000, and the tax rate is 3.5%?Using the graduated tax table, compute the income tax due and/or income tax payable (refundable) of the following given problems. Round off the total income tax due to the nearest whole number. What is the income tax due if the net taxable compensation income is P478,800? In the preceding problem, what if there is tax payments made in the previous quarter in the amount of P47,800, what is the income tax payable (refundable)? What is the income tax due if the net taxable business income is P1,108,600? In the preceding problem, what if there is tax payments made in the previous quarters in the amount of P187,800, what is the income tax payable (refundable)? What is the income tax due if the net taxable business income is P3,158,400? In the preceding problem, what if there is tax payments made in the previous quarters in the amount of P789,780, what is the income tax payable (refundable)?Use the table and find the income tax for an income of 279,000
- Use the following Income Tax Calculation table to calculate the total income tax that someone would owe if their annual income was $83,350. In the image.Suppose your annual income is $29182 and there are two tax brackets: 10% for $0-$20,000 and 30% for everything above $20,000. What percentage of your income will you pay in taxes? Enter your answer in decimal.Given that your gross income for 2020 was $180,000 and your taxable income was $140,000. Calculate: a. the marginal tax rate b. the average tax rate c. the effective tax rate. SHOW WORK
- What would be the average tax rate for a person who paid taxes of $6,435 on a taxable income of $40,780? (Enter your answer as a percent rounded to 2 decimal places.)I need step by step instructions for the problem e) what is the average income tax rate?** I know you have to divide total tax expense by the net income before taxes.So,For E) the income tax expense is $13,134Net Income before tax??Average Tax rate: ??Revenue : (sales) $144000(service) $28700All the taxes :depreciation tax $10400Interest expense $2400Income Tax expense. $13,134Supplies expense. $12,700F) if $18,500 of dividends had been declared and paid during year, what was the January 1 2016 balance of retained earnings?Retained Earnings Dec 31st : $59000Dividens declared: ???Retained Earnings January 1st: ???Please solve and explain thoroughly.Compute the before-tax revenue if tax rate is 15% and after-tax revenue is 23,800
- What is the amount of Taxes Owed for the period if the tax rate is 30%, if Earnings Before Taxes ( a.k.a. EBT, or pre-tax earnings) is 250,000?Compute for the tax due (A,B,C) for the below taxable income based on the Income Tax Tables: TAXABLE INCOME (Annual) TAX DUE P300,000 A P500,000 B P800,000 C .Use the following tax table to determine how much income tax is paid on 915500 of taxable income. Total Paid = $ $