A certain state uses the following progressive tax rate for calculating individual income tax: Income Range ($) Progressive Tax Rate 0 - 10,000 3% 10,001 - 50,000 5% 50,001 - 100,000 5.5% Calculate the state income tax owed on a $60,000 per year salary. tax = $[?] Round your answer to the nearest whole dollar amount.

A certain state uses the following progressive tax rate for calculating individual income tax: Income Range ($) Progressive Tax Rate 0 - 10,000 3% 10,001 - 50,000 5% 50,001 - 100,000 5.5% Calculate the state income tax owed on a $60,000 per year salary. tax = $[?] Round your answer to the nearest whole dollar amount.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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