To determine which marginal tax rates apply to a single taxpayer with a taxable income of [tex]$\$[/tex] 75,000[tex]$, we need to refer to the tax rate brackets provided:
1. \$[/tex]0 to \[tex]$9,525 — taxed at 10%
2. \$[/tex]9,526 to \[tex]$38,700 — taxed at 12%
3. \$[/tex]38,701 to \[tex]$82,500 — taxed at 22%
4. \$[/tex]82,501 to \[tex]$157,500 — taxed at 24%
5. \$[/tex]157,501 to \[tex]$200,000 — taxed at 32%
6. \$[/tex]200,001 to \[tex]$500,000 — taxed at 35%
7. Over \$[/tex]500,000 — taxed at 37%
Given that the taxable income is \[tex]$75,000:
- The first \$[/tex]9,525 is taxed at 10%
- The next portion from \[tex]$9,526 to \$[/tex]38,700 is taxed at 12%
- The remaining income from \[tex]$38,701 to \$[/tex]75,000 falls in the third tier, which is taxed at 22%
Therefore, the marginal tax rates that apply to a single taxpayer with a taxable income of \[tex]$75,000 are:
- 10%
- 12%
- 22%
Mark these marginal tax rates on the tax bracket table:
\begin{tabular}{|l|l|}
\hline \multicolumn{2}{|c|}{ Single Taxpayers: Income Brackets } \\
\hline Tax Rate & Income Bracket \\
\hline \cellcolor{yellow} $[/tex]10 \%[tex]$ & 0 to 9,525 \\
\hline \cellcolor{yellow} $[/tex]12 \%[tex]$ & 9,526 to 38,700 \\
\hline \cellcolor{yellow} $[/tex]22 \%[tex]$ & 38,701 to 82,500 \\
\hline $[/tex]24 \%[tex]$ & 82,501 to 157,500 \\
\hline $[/tex]32 \%[tex]$ & 157,501 to 200,000 \\
\hline $[/tex]35 \%[tex]$ & 200,001 to 500,000 \\
\hline $[/tex]37 \%[tex]$ & $[/tex]>500,000[tex]$ \\
\hline
\end{tabular}
These three highlighted percentages (10%, 12%, and 22%) are the correct marginal tax rates for a single taxpayer with a \$[/tex]75,000 taxable income.
