A Province's Progressive Income Tax Rates Are Structured as Follows

question 162

Short Answer

A province's progressive income tax rates are structured as follows: 6.70% tax on the first $35,000 of taxable income, 12.55% on the next $35,000, 13.75% on the next $400,000, and 14.65% on any additional taxable income. How much tax did a person pay earning an income for a year of $375,899.00?

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