William Is Single and Had Salary Income from His Position

question 102

Multiple Choice

William is single and had salary income from his position as Chief Financial Officer of Zippy Bank of $450,000 putting him in the 37% marginal tax bracket.He also had $35,000 in income from the dividends on the stock of his previous employer.What tax rate will apply to William's dividend income?

• A)15%
• B)20%
• C)35%
• D)39.6%

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Definitions:

Tejanos

People of Mexican heritage who have lived in the territory of the current state of Texas since before it became part of the United States, with a unique culture blending Mexican and Texan influences.

Texians

Residents of the Mexican province of Texas who supported the Texas Revolution against Mexico to achieve independent statehood in 1836.

German Immigration

The movement of German people into the United States, especially significant during the 19th century when they formed one of the largest immigrant groups, influencing American culture and society.

Irish Immigration

The movement of individuals from Ireland to other countries, notably to the United States, often in response to economic hardship, famine, or political unrest.