Business, 11.09.2021 08:00 jordanrini
The Glorious Republic of Gisslovia assesses a 10% Social tax on the first $144,000 earned. The income tax is a flat 25% on all income in excess of $48,000. For each of the following incomes, determine the total amount of social tax, income tax , total tax (social tax + income tax) and the average tax rate (total tax/income):
a) $48,000
b) $96,000
c) $144,00
d) $192,000
e) $240,000
Answers: 3
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The Glorious Republic of Gisslovia assesses a 10% Social tax on the first $144,000 earned. The incom...
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