Steve and Claire are married, and both lived and worked in North Carolina for the...
90.2K
Verified Solution
Link Copied!
Question
Accounting
Steve and Claire are married, and both lived and worked in North Carolina for the entire 2013 tax year. Their total adjusted gross income was $78,000 and they qualified for the standard deduction of $6000 and exemption of $2500 (per person). Use the following 2011-2013 NC tax rate schedule (taken from http://www.dor.state.nc.us/taxes/individual/rates.html) to calculate her 2013 NC tax.
If your filing status is married, filing jointly or qualifying widow or widower;
and taxable income is more than:
but not over:
your tax is:
$ 0
$21,250
6% OF THE NC TAXABLE INCOME AMOUNT ON FORM D-400
$21,250
$100,000
$1275 + 7% OF THE AMOUNT OVER $21,250
$100,000
_______
$6,787.50 + 7.75% OF THE AMOUNT OVER $100,000
Steve and Claire's 2013 NC tax is: (Round to the nearest dollar.) What is Steve and Claire's effective tax rate? [Tax paid divided by taxable income] (Write as a percent, rounded to one decimal place.)
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!
