If taxable income is - The tax is Not over $36,900 - 15% of taxable...
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Accounting
If taxable income is - The tax is
Not over $36,900 - 15% of taxable income
Over $36,900 and less than $89,150 - $5,535 plus 28% of the excess over $36,900
Over $89,150 and less than $140,000 - $20,165 plus 31% of the excess over $89,150
Amanda Huggins has an adjusted gross income of $45,500 and has itemized deductions and exemptions totaling $6,700. What is Ms. Huggins marginal tax rate?
a) 13.3%
b) 15.6%
c) 28%
d) 31%
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