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McGraw Hill's Taxation of Individuals and Business Entities, 2024 Edition, 15e Brian Spilker, Ayers, Barrick, Lewis, Robinson, Weaver, Worsham, Outslay (Test Bank All Chapters, 100% Original Verified, A+ Grade) 1 / 4
7/26/23, 12:10 AM
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The following are a series of tables that may be referred to in several questions throughout your test. Please refer to these tables as needed or as directed.2023 Tax Rate Schedules Individuals Schedule X-Single If taxable income is over:But not over:The tax is: $ 0 $ 11,000 10% of taxable income $ 11,000 $ 44,725 $1,100 plus 12% of the excess over $11,00 0 $ 44,725 $ 95,375 $5,147 plus 22% of the excess over $44,725 $ 95,375 $ 182,100 $16,290 plus 24% of the excess over $95, 375 $ 182,100 $ 231,250 $37,104 plus 32% of the excess over $1 82,100 $ 231,250 $ 578,125 $52,832 plus 35% of the excess over $23 1,250 $ 578,125 — $174,238.25 plus 37% of the excess over $578,125 Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over:But not over:The tax is: $ 0 $ 22,000 10% of taxable income $ 22,000 $ 89,450 $2,200 plus 12% of the excess over $22,000 $ 89,450 $ 190,750 $10,294 plus 22% of the excess over $89, 450 $ 190,750 $ 364,200 $32,580 plus 24% of the excess over $19 0,750 $ 364,200 $ 462,500 $74,208 plus 32% of the excess over $364,200 $ 462,500 $ 693,750 $105,664 plus 35% of the excess over $462,500 $ 693,750 — $186,601.50 plus 37% of the excess over $693,750 Schedule Z-Head of Household If taxable income is over:But not over:The tax is: $ 0 $ 15,700 10% of taxable income $ 15,700 $ 59,850 $1,570 plus 12% of the excess over $15,700 $ 59,850 $ 95,350 $6,868 plus 22% of the excess over $59,850 $ 95,350 $ 182,100 $14,678 plus 24% of the excess over $95, 350 $ 182,100 $ 231,250 $35,498 plus 32% of the excess over $1 82,100 $ 231,250 $ 578,100 $51,226 plus 35% of the excess over $23 1,250 $ 578,100 — $172,623.50 plus 37% of the excess over $578,100 Schedule Y-2-Married Filing Separately If taxable income is over:But not over:The tax is: $ 0 $ 11,000 10% of taxable income $ 11,000 $ 44,725 $1,100 plus 12% of the excess over $11,00 0 $ 44,725 $ 95,375 $5,147 plus 22% of the excess over $44,725 $ 95,375 $ 182,100 $16,290 plus 24% of the excess over $95, 375 $ 182,100 $ 231,250 $37,104 plus 32% of the excess over $1 82,100 $ 231,250 $ 346,875 $52,832 plus 35% of the excess over $231,250 $ 346,875 — $93,300.75 plus 37% of the excess over $346,875 Chapter 1 .Taxation of Individuals 2 / 4
7/26/23, 12:10 AMAssignment Print View
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This question contains tables that students will need to reference in certain questions in this chapter, and is intended for use with TestBuilder/print-based tests only. If you are creating a Connect- based test, you do not need to assign this question as the individual questions on Connect will provide students with hyperlinks to the corresponding tables.Taxes influence many types of business decisions but generally do not influence personal decisions.True False References True / False Difficulty: 1 EasyLearning Objective: 01-01 Demonstrate how taxes influence basic business, investment, personal, and political decisions.Taxes influence business decisions such as where a business should locate or how a business should be structured.True False References True / False Difficulty: 1 EasyLearning Objective: 01-01 Demonstrate how taxes influence basic business, investment, personal, and political decisions.
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Tax policy rarely plays an important part in presidential campaigns.True False References True / False Difficulty: 1 EasyLearning Objective: 01-01 Demonstrate how taxes influence basic business, investment, personal, and political decisions.Margaret recently received a parking ticket. This is a common example of a local tax.True False References True / False Difficulty: 1 EasyLearning Objective: 01-02 Discuss what constitutes a tax and the general objectives of taxation.
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