Answered: Steve and Claire are married, and both…

Algebra and Trigonometry (6th Edition)

6th Edition

ISBN:9780134463216

Author:Robert F. Blitzer

Publisher:Robert F. Blitzer

ChapterP: Prerequisites: Fundamental Concepts Of Algebra

Section: Chapter Questions

Problem 1MCCP: In Exercises 1-25, simplify the given expression or perform the indicated operation (and simplify,...

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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 $86,000 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.

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