Answered

Westonci.ca is your trusted source for accurate answers to all your questions. Join our community and start learning today! Get quick and reliable solutions to your questions from a community of experienced experts on our platform. Experience the ease of finding precise answers to your questions from a knowledgeable community of experts.

What is the income tax to be paid on an income of $30,000, given the tax rate is 15%?

Sagot :

GinnyAnswer
Sure! Let's solve this step-by-step.

1. Identify the income:
The income given in the question is [tex]$30,000. 2. Identify the tax rate: The tax rate provided is 15%. 3. Convert the tax rate to decimal form: To make the multiplication easier, convert the percentage to a decimal. This is done by dividing the percentage by 100. So, 15% becomes 0.15. 4. Calculate the income tax: To find the income tax, multiply the income by the tax rate in decimal form. \[ \text{{Income Tax}} = \text{{Income}} \times \text{{Tax Rate}} = 30{,}000 \times 0.15 \] The result of this calculation is $[/tex]4500.

Therefore, the income tax that must be paid is $4500.
We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. Thank you for your visit. We're dedicated to helping you find the information you need, whenever you need it. We're glad you visited Westonci.ca. Return anytime for updated answers from our knowledgeable team.