Given the following data compute your combined income tax, Ask an Expert

Economics

Given the following data, compute your combined income tax rate (CTR) assuming you deduct allowable expenses on yourincometax forms: a before-tax MARRof5%,aninflation rateof3%,a federalincome tax rate of 28%, a state income tax rate of 6%, a local city income tax of 3%, and a capital gains tax rate of 15%, as applicable. Contributed by D. P. Loucks, Cornell University

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M92638584

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