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2016 Income Tax Rates INDIVIDUAL TAX RATE SCHEDULES Married Filing Jointly and Surviving Spouse If taxable income is: Not over $18,550 Over $18,550…
What are the tax liability, the marginal tax rate, and the average tax rate for a corporation with $150,500 taxable income? (Round “Average tax rate” to 2 decimal places.)
Tax liability$41,945
Marginal tax rate 39%
Average tax rate?
What are the tax liability, the marginal tax rate, and the average tax rate for a corporation with $17,500,000 taxable income? (Round “Average tax rate” to 2 decimal places.)
Tax liability$6,100,000
Marginal tax rate38%
Average tax rate?
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