What is the tax due for a single taxpayer reporting a taxable income of $65,725?

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18-07-2022
Mathematics

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What is the tax due for a single taxpayer reporting a taxable income of $65,725?

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adioabiola adioabiola · Answer 1 · 2022-07-20T20:09:19+02:00

The tax due for the single taxpayer whose income is as described is; $14,459.5.

What is the tax due for the single taxpayer?

It follows from the task content that the tax due for a single taxpayer whose taxable income is; $65,725 is to be determined.

Since, the taxable income falls between the range; $40,526 to $86,375, 22% of the income is the tax due and hence, the tax due can be evaluated as follows;

= (22/100) × $65,725

= 14,459.5