To calculate the federal income tax owed on a [tex]$30,000 salary, let's follow the steps outlined:
1. Calculate the Taxable Income:
- Salary: $[/tex]30,000
- Standard Deduction: [tex]$12,200
\[
\text{Taxable Income} = \text{Salary} - \text{Standard Deduction} = 30000 - 12200 = 17800
\]
Thus, the taxable income is $[/tex]17,800.
2. Calculate the Federal Income Tax:
We use the progressive tax rates given in the table:
[tex]\[
\begin{array}{|c|c|}
\hline
\text{Income Bracket} & \text{Tax Rate} \\
\hline
0 - 9700 & 10\% \\
9701 - 39475 & 12\% \\
39476 - 84200 & 22\% \\
84201 - 160275 & 24\% \\
160276+ & 32\% \\
\hline
\end{array}
\][/tex]
Since [tex]$17,800$[/tex] falls into the first two brackets:
- The first [tex]$9,700$[/tex] is taxed at [tex]$10\%$[/tex]:
[tex]\[
9700 \times 0.10 = 970
\][/tex]
- The remaining income from [tex]$9,701$[/tex] to [tex]$17,800$[/tex] (which is [tex]$17,800 - 9,700 = 8,100$[/tex]) is taxed at [tex]$12\%$[/tex]:
[tex]\[
8100 \times 0.12 = 972
\][/tex]
3. Total Tax Calculation:
[tex]\[
\text{Total Tax} = 970 + 972 = 1942
\][/tex]
Therefore, the taxable income is [tex]$17,800, and the federal income tax owed is $[/tex]1,942.
