Jill lived and worked in North Carolina for the entire 2013 tax year. Her adjusted gross income was $70,000 and she qualifies for the standard deduction of $3000 and exemption of $2000. Use the following 2011-2013 NC tax rate schedule (taken from http://www.dor.state.nc.us/taxes/individual/rates.html) to calculate her 2013 NC tax. If your filing status is single; but not and taxable income is more than: your tax is: over: 6% OF THE NC TAXABLE INCOME AMOUNT ON FORM D- $0 $12,750 400 $12,750 $60,000 $765 + 7% OF THE AMOUNT OVER $12,750 $60,000 $4,072.50 +7.75% OF THE AMOUNT OVER $60,000

Jill lived and worked in North Carolina for the entire 2013 tax year. Her adjusted gross income was $70,000 and she qualifies for the standard deduction of $3000 and exemption of $2000. Use the following 2011-2013 NC tax rate schedule (taken from http://www.dor.state.nc.us/taxes/individual/rates.html) to calculate her 2013 NC tax. If your filing status is single; but not and taxable income is more than: your tax is: over: 6% OF THE NC TAXABLE INCOME AMOUNT ON FORM D- $0 $12,750 400 $12,750 $60,000 $765 + 7% OF THE AMOUNT OVER $12,750 $60,000 $4,072.50 +7.75% OF THE AMOUNT OVER $60,000

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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