a certain state uses the progressive tax rate below for calculating individual income tax. calculate the…

a certain state uses the progressive tax rate below for calculating individual income tax. calculate the state income tax owed on an $60,000 per year salary. income range ($) progressive tax rate 0 - 26,000 1% 26,001 - 46,000 3% 46,001+ 4% tax = $?

a certain state uses the progressive tax rate below for calculating individual income tax. calculate the state income tax owed on an $60,000 per year salary. income range ($) progressive tax rate 0 - 26,000 1% 26,001 - 46,000 3% 46,001+ 4% tax = $?

Answer

Explanation:

Step1: Calculate tax for first - income range

For the income range of $0 - 26000$, the tax rate is $1%$. The amount of income in this range is $26000$. The tax paid in this range is $26000\times 0.01=260$.

Step2: Calculate tax for second - income range

The second income range is $26001 - 46000$. The amount of income in this range is $46000 - 26000=20000$. The tax rate is $3%$, so the tax paid in this range is $20000\times0.03 = 600$.

Step3: Calculate tax for third - income range

The income is $60000$. The amount of income in the third range ($46001$ and above) is $60000 - 46000=14000$. The tax rate is $4%$, so the tax paid in this range is $14000\times0.04=560$.

Step4: Calculate total tax

The total state income tax is the sum of the taxes from each range, $260 + 600+560=1420$.

Answer:

$1420$