Suppose Mr. Lee has total income of $120,000, has taxable income of $90,000, and pays $30,000 in taxes. Considering the information, what is Mr. Lee's nominal tax rate?
A. 75 percent.
B. 33.33 percent.
C. 25 percent.
D. 10 percent.
Answer: B
Economics
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A) spending by the President on the White House. B) spending on programs for people qualified to receive benefits. C) spending that increases in expansions and decreases in recessions. D) taxes paid by those qualified by their income. E) spending by Congress on its own perks of office.
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What is the total revenue test?
What will be an ideal response?
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The legal transfer of chattels supports economic growth
Indicate whether the statement is true or false
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An effective price floor
A. Occurs when market prices are below equilibrium prices. B. Results in a shortage. C. Results in a surplus. D. Can occur due to collusion.
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