At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Experience the convenience of getting accurate answers to your questions from a dedicated community of professionals. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.
Sagot :
If you make an extra 1000 in income and your marginal tax rate is 30 percent while your average tax rate is $300 (1,000X30%).
The marginal tax rate is the tax rate paid on an additional dollar of income. In the United States, the federal marginal tax rate for individuals increases with respect to the rise in income.
This method of taxation, which is known as progressive taxation, aims to apply tax on the individuals based upon their earnings. Low-income earners are being taxed at a lower rate than the higher income earners.
Under the marginal tax rate, taxpayers are most often divided into tax brackets or ranges, which determines the rate which is applied to the taxable income of the tax filer.
To know more about marginal tax rate here:
https://brainly.com/question/10798743
#SPJ4
Visit us again for up-to-date and reliable answers. We're always ready to assist you with your informational needs. We hope you found this helpful. Feel free to come back anytime for more accurate answers and updated information. Get the answers you need at Westonci.ca. Stay informed by returning for our latest expert advice.
