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The Lin household’s annual income is $188000. Based on the U.S. federal tax rates below, what is the average tax rate for the Lin household? (Assume zero tax deductions for solving this problem.)
A. 45%
B. 24.41%
C. 22.22%
D. 33%

Respuesta :

jepessoa

Answer:

24%

Explanation:

For the taxes due on April 2020 (current year taxes):

The Lin household falls under the fourth tax bracket for married individuals filing jointly:

  • tax rate 24%
  • Income between $171,051 to $326,600

If no deductions were available, they would owe $188,000 x 24% = $45,120 in taxes.

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