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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?

The​ firm's... View the full answer

• 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

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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