tax+table - 35 6,290,000 example $12,000,000 taxable income...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
INPUT: What is the taxable income? 20,000,000 OUTPUT: Marginal Tax Rate: 35.00% Amount of taxes owed: 6,990,000 Average Tax Rate: 34.95% Corporate Income Tax Rates 2011 - 50,000 15% 50,000 75,000 25% 75,000 100,000 34% 100,000 335,000 39% 335,000 10,000,000 34% 10,000,000 15,000,000 35% 15,000,000 18,000,000 38% 18,000,000 higher 35% Cummulative Tax From Previous Brackets - 50,000 15% - 50,000 75,000 25% 7,500 75,000 100,000 34% 13,750 100,000 335,000 39% 22,250 335,000 10,000,000 34% 113,900 10,000,000 15,000,000 35% 3,400,000 15,000,000 18,000,000 38% 5,150,000 18,000,000 higher
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: 35% 6,290,000 example: $12,000,000 taxable income results in taxes of $3,400,000 + $2M*35% Taxable Income Avg tax rate 50,000 15.00% 75,000 18.33% 100,000 22.25% 335,000 34.00% 10,000,000 34.00% 15,000,000 34.33% 18,000,000 34.94% 50,000 75,000 100,000 335,000 10,000,000 15,000,000 18,000,000 0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00% 40.00% Average Tax Rate Versus Taxable Income Avg tax rate- 5,000,000 10,000,000 15,000,000 20,000,000 0.00% 20.00% 40.00% Average Tax Rate Versus Taxable Income (true scale) Avg tax rate...
View Full Document

Ask a homework question - tutors are online