What is the annual real estate tax on a valued at $135,000 and assessed for tax purposE at $47,250 with an equalization factor of 125% property and a tax rate of 25 mills?

Q: What is the amount of taxes for the head of a household with taxable income of $62,525

A: Taxable income refers Adjusted gross income (AGI) less (if any) any itemized deduction that is…

Q: Leo's townhouse has a market value of $310,000. The property in Leo's area is assessed at 40% of the…

A: The market value of townhouse is $310,000.The property is assessed at 40% of market value.

Q: Using the following table, calculate the taxes for an individual with taxable income of $25,800.…

A: Tax is the amount of money paid by a tax payer to the appropriate tax authorities on the basis of…

Q: As of 2015, farms were taxed at 10 percent for income up to $46,000; at 24 percent for income…

A: Tax is computed at a certain rate on different slabs of income . In a progressive tax system, the…

Q: Determine the tax rate. Round to the nearest cent or nearest hundredth. Assessed property value:…

A: The tax rate can be determined in the following manner:  (Expenses to be funded by property…

Q: Use the following information for Taco Swell, Incorporated, (assume the tax rate is 23 percent):…

A: The  "cash flow from creditors" means the financial exchanges that take place between a business and…

Q: Based on the following data, calculate the items requested: Buying Costs Rental Costs Annual rent…

A: Solution:a.  Total rental cost Particulars A,mount $Rent $ 8,180Insurance $ 225Interest on security$…

Q: Given the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: Tax Rate=Total TaxTotal Salary×100

Q: The home of Bill Burton is assessed at $93,000. The tax rate is 18.7 mills. What is the tax on…

A: Property tax is defined as the amount of tax that is given on the assessed value of the property of…

Q: A typical home in Waukesha County had an assessed value of $218,700. The tax rate is $2.21 per…

A: Property taxes refer to the amount that should be paid by the owner of the land to the local…

Q: Taxable income is $30369 Tax is 15 %  what is the tax amount owed

A: tax liability is the amount of tax to be paid by the individual or firm to the goverment. tax owed =…

Q: "Your company will generate $470,000 in taxable income for 2020. Assume that your state tax rate is…

A: The tax amount refers to the liability of the corporation towards the government. It is calculated…

Q: Compute the effective income tax rate for 2020. (Round answer to 2 decimal places, eg 25.51%.)…

A: Effective Tax Rate  = Tax liability / Financial Income Tax Liability  = Taxabe Income * Tax rate

Q: Byron Books Inc. recently reported $15million of net income. Its EBIT was$20.8million, and its tax…

A: Step 1: Pre Tax is the income calculated before tax and net income is calculated after the tax. In…

Q: Based on the following data, calculate the items requested: Rental Costs Annual rent Buying Costs…

A: Capital budgeting involves the evaluation of various options available for investments or projects.…

Q: (04-6) Given the following information, calculate the total annual tax liability of the homeowner:…

A: Tax liability is the amount you owe to taxing entities like your local, state, and federal…

Q: How much must Deon pay in income tax for last year?

A: Tax refers to the amount charged by the government on individuals, partnership firms, HUF’s or any…

Q: Interest earnings of $1,600 from a taxable investment for a person in a 28 percent tax bracket would…

A: Interest is earned from a taxable investment, so a tax of 28% will be levied on interest earning…

Q: 5. Bradkin's Toggery owns property with a fair market value of $209,200. Property in the area is…

A: The amount that a landowner pays each year to the municipal corporation or local government in his…

Q: You have some property which has an assessed value of $240,900. If the tax rate is 56.40 mills,…

A: Introduction  The mill rate is based on mills which is derived from Latin word millesimal which…

Q: Given the following tax structure, what minimum tax would need to be assessed on Sham with respect…

A: In a progressive tax, the tax rate rises as taxable income increases.People with greater salaries…

Q: K's Warehouse has a market value of $900,000. The property in K's is assessed at 45% of the market…

A: The market value of the Warehouse is $900,000 The assessment rate is 45% The tax rate is $62.40 per…

Q: Will owns some property that has an assessed value of $36,592. Calculate the tax due if the tax rate…

A: Mill rate calculates the amount per thousand of the assessed value. The tax due is calculated by…

Q: The total tax on an income of $256,600 is:    Select one: a. $96,194 b. $113,900 c. $112,944 d.…

A: First 50,000 will taxed at 15%, Next 25,000 will taxed at 25%, Next 25,000 will be taxed at 34% and…

Q: some property which has an assessed value of $240,500. If the tax rate is 65.90 mills, calculate the…

A: There are taxes to be paid on the property according the prevailing tax rate and amount of tax due…

Q: Calculate the property tax payment for $3578 annual taxes, paid quarterly.

A: The property tax is the tax imposed on real estate by the government. The property tax is paid for…

Q: Given the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: In a progressive tax, the tax rate raises as taxable income increases. People with greater salaries…

Q: The tax basis entries above add up to $625,000, not $645,000

A: Under U.S. federal tax law, the tax basis of an asset is generally its cost basis. Determining such…

Q: 12 If your state has a property tax rate of 0.063, and you pay $8,323 in property taxes every year,…

A: Given: Property tax rate = 0.063 Property tax = $8,323

Q: Calculate the amount of property tax due:       Tax rate Assessed value Amount of property tax…

A: The formula used as follows: Amount of property tax due=Assessed value of property×Tax rate

Q: Siven the following tax structure, what minimum tax would need to be assessed on Shameika to make…

A: The average tax rate is computed by dividing the entire amount of tax paid by the total amount of…

Q: The home of Bill Burton is assessed at $80,000. The tax rate is 18.50 mills. What is the tax on…

A: The tax on the home property is determined on assessed value. The assessed value represents the…

Q: Suppose a tax is such that an individual with an income of $10,000 pays $2000 of tax, a person with…

A: The government of a nation can charge income tax based on regressive method, proportional method and…

Fringe Benefit Tax

Fringe benefits are in addition to the compensation that companies give to their employees. It is an additional benefit above the stated salary. It helps to keep the employees of the firm motivated as sometimes the only salary is not enough to retain the quality employees of the firm. There are different types of fringe benefits. Fringe benefits are given in both private as well as public enterprises.