The Stefani Co. had $288,000 in taxable income.
Taxable Income Tax Rate
$ 0- 50,000 15%
50,001- 75,000 25
75,002- 100,000 34
100,001- 335,000 39
335,001- 10,000,000 34
10,000,001- 15,000,000 35
15,000,001- 18,333,333 38
18,333,334+ 35
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- Calculate the company's income taxes.
- What is the average tax rate?
- What is the marginal tax rate?