A family has $98,150 of taxable income. The top tax rate on the graph is for taxable income over $91,150. What is the tax rate for the $7,000 they earned over $91,150? (1 point)

Answer 1

To determine the tax rate on the $7,000 of taxable income earned over $91,150, we first need to refer to the tax bracket associated with that income range.

If the top tax rate on the graph corresponds to taxable income over $91,150, then for income above that threshold, the applicable tax rate is the rate defined for that bracket.

Depending on the specific tax table or graph you are referencing (which is not provided here), the tax rate can vary. However, as an example, if the tax rate for income between $91,150 and $100,000 is, say, 24%, then the tax rate for the $7,000 earned over $91,150 would be 24%.

Please check the specific rate applicable in your tax table for the correct answer. If you provide me with the specific tax bracket or rate, I can give a more accurate answer.