Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. ac motors is a sole proprietorship that has taxabl

AC Motors is a sole proprietorship that has taxable income of $94,200. How much additional...

70.2K

Verified Solution

Question

Accounting

AC Motors is a sole proprietorship that has taxable income of $94,200. How much additional tax will be owed if the taxable income increases by $14,300 based on the following tax rates? Assume this is the sole source of income for the owner (Hint: Think about marginal tax rate).

Taxable Income Tax Rate(%) $09,950109,95140,5251240,52686,3762286,376164,92524

$3,862.

$3,039.

$3,406.

$3,432.

$3,678.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

I need the CORRECT answer!!! A recent national survey found that high school students watched an average...

Statistics
Q

Book: The Story of Psychology The measurers chapter is all about how people measure up to others...

Psychology
Q

What are the steps that manage care organization might follow in setting up a strategy monitor...

Operations Management
Q

Madame C. J. Walker is one of several exceptional leaders in the cosmetology field that...

Biology
Q

A child pulls a wagon with a force of 34 pounds. The handle of the...

Basic Math
Q

In a test of statistical hypotheses the P value tells us O A if the...

Statistics
Q

Find the equation of the line tangent to the graph of x + y =...

Calculus
Q

Which statement is true about interpretation of individual rights O The Supreme Court avoids prior...

Algebra
Q

Required information The Foundational 15 [LO13-1, LO13-2, LO13-3, LO13-5,...

Accounting
Q

A corporation issued 3.000 shares of $ 10 par value common stock for $36.000 cash

Accounting
Q

Use the following information to complete Oscar and Omara Olivas 2020 federal income tax return....

Finance
Q

(a) Discuss the two opposite views towards regulating financial markets/institutions. (b) Discuss whether Basel 3...

Finance