FULL TEST BANK FOR Taxation of Individuals and Business Entities 202 12th Edition by Brian Spilker, Benjamin Ayers, John Barrick, Troy Lewis, John Robinson, Connie Weaver, Ronald Worsham Answers are at the End of Each chapter Student name:__________
Chapter 1 1) The following are a series of tables that may be referred to in several questions throughout your test. Please refer to these tables as needed or as directed. 2022 Tax Rate SchedulesIndividualsSchedule X-Single If taxable income is over:
But not over:
The tax is:
$ 0
$ 10,275
10% of taxable income
$ 10,275
$ 41,775
$1,027.50 plus 12% of the excess over $10,275
$ 41,775
$ 89,075
$4,807.50 plus 22% of the excess over $41,775
$ 89,075
$ 170,050
$15,213.50 plus 24% of the excess over $89,075
$ 170,050
$ 215,950
$34,647.50 plus 32% of the excess over $170,050
$ 215,950
$ 539,900
$49,335.50 plus 35% of the excess over $215,950
$ 539,900
—
$162,718 plus 37% of the excess over $539,900
Schedule Y-1-Married Filing Jointly or Qualifying Widow(er) If taxable income is over:
But not over:
The tax is:
$ 0
$ 20,550
10% of taxable income
$ 20,550
$ 83,550
$2,055 plus 12% of the excess over $20,550
$ 83,550
$ 178,150
$9,615 plus 22% of the excess over $83,550
$ 178,150
$ 340,100
$30,427 plus 24% of the excess
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