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Test Bank for McGraw Hill's Taxation of Individuals 2025: Evergreen Release by Spilker, Ayers, Lewis

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Test Bank for McGraw Hill's Taxation of Individuals 2025: Evergreen Release by Spilker, Ayers, Lewis Test Bank for McGraw Hill's Taxation of Individuals 2025: Evergreen Release by Spilker, Ayers, Lewis Test Bank for McGraw Hill's Taxation of Individuals 2025: Evergreen Release by Spilker, ...

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  • August 31, 2024
  • 582
  • 2024/2025
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Chapter .01 .2025 .Release ✅
1) The .following .are .a .series .of .tables .that .may .be .referred .to .in .several .questions An
.throughout.your .test. .Please .refer .to .these .tables .as .needed .or .as .directed. sw
2024 .Tax .Rate .SchedulesIndividualsSchedule .X-Single
ers
If .taxable .income But The .tax .is:
.is.
over: .not.
ove .In

r: clu
$ .0 $ .11,600 10% .of .taxable .income de
$ .11,600 $ .47,150 $1,160 .plus .12% .of .the
d
.excess.
over .$11,600
$ .47,150 $ .100,525 $5,426 .plus .22% .of .the
.excess.
over .$47,150
$ .100,525 $ .191,950 $17,168.50 .plus .24% .of
.the.
excess .over .$100,525
$ .191,950 $ .243,725 $39,110.50 .plus .32% .of
.the.
excess .over .$191,950
$ .243,725 $ .609,350 $55,678.50 .plus .35% .of
.the.
excess .over .$243,725
$ .609,350 — $183,647.25 .plus .37% .of
.the.
excess .over .$609,350
Schedule .Y-1-Married .Filing .Jointly .or .Qualifying .Widow(er)
If .taxable .income But The .tax .is:
.is.
over: .not.
ove
r:
$ .0 $ .23,200 10% .of .taxable .income
$ .23,200 $ .94,300 $2,320 .plus .12% .of .the
.excess.
over .$23,200
$ .94,300 $ .201,050 $10,852 .plus .22% .of .the
.excess.
over .$94,300
$ .201,050 $ .383,900 $34,337 .plus .24% .of .the
.excess.
over .$201,050
$ .383,900 $ .487,450 $78,221 .plus .32% .of .the
.excess.
over .$383,900
1

, $ .487,450 $ .731,200 $111,357 .plus .35% .of .the
.excess.
over .$487,450
$ .731,200 — $196,669.50 .plus .37% .of
.the.
excess .over .$731,200
Schedule .Z-Head .of .Household
If .taxable .income But The .tax .is:
.is.
over: .not.
ove
r:
$ $ .16,550 10% .of .taxable .income
.0




2

, $ .16,550 $ .63,100 $1,655 .plus .12% .of .the
.excess.
over .$16,550
$ .63,100 $ .100,500 $7,241 .plus .22% .of .the
.excess.
over .$63,100
$ .100,500 $ .191,950 $15,469 .plus .24% .of .the
.excess.
over .$100,500
$ .191,950 $ .243,700 $37,417 .plus .32% .of .the
.excess.
over .$191,950
$ .243,700 $ .609,350 $53,977 .plus .35% .of .the
.excess.
over .$243,700
$ .609,350 — $181,954.50 .plus .37% .of
.the.
excess .over .$609,350
Schedule .Y-2-Married .Filing .Separately
If .taxable .income But The .tax .is:
.is.
over: .not.
ove
r:
$ .0 $ .11,600 10% .of .taxable .income
$ .11,600 $ .47,150 $1,160 .plus .12% .of .the
.excess.
over .$11,600
$ .47,150 $ .100,525 $5,426 .plus .22% .of .the
.excess.
over .$47,150
$ .100,525 $ .191,950 $17,168.50 .plus .24% .of
.the.
excess .over .$100,525
$ .191,950 $ .243,725 $39,110.50 .plus .32% .of
.the.
excess .over .$191,950
$ .243,725 $ .365,600 $55,678.50 .plus .35% .of
.the.
excess .over .$243,725
$ .365,600 — $98,334.75 .plus .37% .of
.the.
excess .over .$365,600




2) Taxes .influence .many .types .of .business .decisions .but .generally .do .not .influence
.personal.decisions.
⊚ . true
⊚ . false



3

, 3) Taxes .influence .business .decisions .such .as .where .a .business .should .locate .or .how .a
.business.should .be .structured.
⊚ . true
⊚ . false


4) Tax .policy .rarely .plays .an .important .part .in .presidential .campaigns.
⊚ . true
⊚ . false



5) Margaret .recently .received .a .parking .ticket. .This .is .a .common .example .of .a .local .tax.
⊚ . true
⊚ . false



6) George .recently .paid .$50 .to .renew .his .driver's .license. .The .$50 .payment .is .considered .a .tax.
⊚ . true
⊚ . false



7) A .1 .percent .charge .imposed .by .a .local .government .on .football .tickets .sold .is .not
.considered .a.tax .if .all .proceeds .are .earmarked .to .fund .local .schools.
⊚ . true
⊚ . false


8) One .key .characteristic .of .a .tax .is .that .it .is .a .required .payment .to .a .governmental .agency.
⊚ . true
⊚ . false



9) Common .examples .of .sin .taxes .include .the .taxes .imposed .on .airline .tickets .and .gasoline.
⊚ . true
⊚ . false




4

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