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Meyer Inc.

Meyer Inc. has taxable income​ (earnings before​ taxes) of $301,000


Using the Table, what is the firm's tax liability for the year in $


Taxable Income                       Marginal Tax Rate

​$0minus−​$50,000                   15%

​$50,001−​$75,000                   25%

​$75,001−​$100,000                 34%

​$100,000−​$335,000                39%

​$335,001−​$10,000,000            34%

​$10,000,001−​$15,000,000       35%

​$15,000,001−​$18,333,333       38%


Over​ $18,333,333                    35%


The​ firm's marginal tax rate is?

Top Answer

The​ firm's... View the full answer

6 comments
  • I needed to know what the firm's tax liability for the year
    • Doodledonkey
    • Jun 10, 2018 at 7:39pm
  • Please always include in problem what you need in problem, please dont post additional question in comment, This time I provide you the tax liability in comment itself
    • rocky4ever
    • Jun 10, 2018 at 7:58pm
  • Firm's tax liability = 50000*15% + (75000-50000)*25% + (100000-75000)*34% + (301000-100000)*39%
    • rocky4ever
    • Jun 10, 2018 at 8:00pm
  • Firm's tax liability = $ 100640
    • rocky4ever
    • Jun 10, 2018 at 8:00pm
  • Ok I have seen the Question in your problem itself.
    • rocky4ever
    • Jun 10, 2018 at 8:02pm
  • Please feel free to mark as unhelpful if you does not find my answer helpful
    • rocky4ever
    • Jun 10, 2018 at 8:03pm

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Other Answers

Marginal rate of tax: Marginal rate of tax is the rate of tax on each additional dollar... View the full answer

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