To determine the total tax due for a single taxpayer with a taxable income of [tex]$43,500, we need to apply each tax bracket rate to the corresponding portion of the taxable income.
Here are the tax brackets and rates:
\[
\begin{array}{|c|c|}
\hline
\text{Tax Rate} & \text{Income Bracket} \\
\hline
10\% & 0 \text{ to } 9,525 \\
12\% & 9,526 \text{ to } 38,700 \\
22\% & 38,701 \text{ to } 82,500 \\
24\% & 82,501 \text{ to } 157,500 \\
32\% & 157,501 \text{ to } 200,000 \\
35\% & 200,001 \text{ to } 500,000 \\
37\% & >500,000 \\
\hline
\end{array}
\]
Step-by-step calculation:
1. First Bracket (10%):
- Income falling into this bracket: $[/tex]0[tex]$ to $[/tex]9,525[tex]$
- Tax on this portion: \[ 9,525 \times 0.10 = 952.50 \]
2. Second Bracket (12%):
- Income falling into this bracket: $[/tex]9,526[tex]$ to $[/tex]38,700[tex]$
- Tax on this portion: \[ (38,700 - 9,525) \times 0.12 = 29,175 \times 0.12 = 3,501.00 \]
3. Third Bracket (22%):
- Income falling into this bracket: $[/tex]38,701[tex]$ to $[/tex]43,500[tex]$ (the remaining income after $[/tex]38,700[tex]$)
- Tax on this portion: \[ (43,500 - 38,700) \times 0.22 = 4,800 \times 0.22 = 1,056.00 \]
Adding the tax from all brackets:
\[
952.50 + 3,501.00 + 1,056.00 = 5,509.50
\]
Therefore, the estimated total tax due for a single taxpayer with a taxable income of $[/tex]43,500 is [tex]\(\$ 5,509.50\)[/tex].
