Answered

Please help,I’ll mark you as the brainliest!!!A certain state uses the following progressive
tax rate for calculating individual income tax:
Income Progressive
Range ($) Tax Rate
0 - 10,000
3%
10,001 - 50,000 5%
50,001 - 100,000 5.5%
Calculate the state income tax owed on a $70,000
per year salary.
tax = $[?]
Round your answer to the nearest whole dollar amount.

Please helpIll mark you as the brainliestA certain state uses the following progressive tax rate for calculating individual income tax Income Progressive Range class=


Answer :

chilljain33

The income tax liabilities for an annual salary of $70,000 will be around $3,400 after progressive taxation rate.

What is the significance of income tax liabilities?

Income tax liabilities can be computed by taking into account the rates of taxation according to the annual incomes. For the above condition, tax for $10000 will be $300 at 3%; $2,000 for additional up to $50,000; and $1,100 for the next $20,000. Total tax liability will add up to $3,400.

Therefore, the income tax liabilities over the annual income given has been aforementioned.

Learn more about income tax liabilities here:

https://brainly.com/question/16102904

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