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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...Question
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)
The tax rate for the $7,000 of taxable income earned over $91,150 is
%.
(1 point)
The tax rate for the $7,000 of taxable income earned over $91,150 is
%.
Answers
GPT-4o mini
To determine the tax rate for the $7,000 earned over $91,150, we need to identify the tax rate bracket that applies to that portion of income.
Since the question specifies that the top tax rate on the graph is for taxable income over $91,150, we can assume that the tax rate for income over that threshold is the rate applicable to $7,000.
Without the specific graph or table of tax rates, I can't give you the exact percentage. However, commonly in the U.S. tax brackets for a single filer, the rate for income over $91,150 (for 2023) is typically 24%.
If this is the case, then:
The tax rate for the $7,000 of taxable income earned over $91,150 is **24%**.
Please verify the exact tax rate using the specific tax table or bracket for the correct year or income type you are looking at.
Since the question specifies that the top tax rate on the graph is for taxable income over $91,150, we can assume that the tax rate for income over that threshold is the rate applicable to $7,000.
Without the specific graph or table of tax rates, I can't give you the exact percentage. However, commonly in the U.S. tax brackets for a single filer, the rate for income over $91,150 (for 2023) is typically 24%.
If this is the case, then:
The tax rate for the $7,000 of taxable income earned over $91,150 is **24%**.
Please verify the exact tax rate using the specific tax table or bracket for the correct year or income type you are looking at.