Question

mark lives in a state that charges him 6.1% income tax on his federal taxable income. if his federal taxable income is $79,400, how much does mark pay in state income tax?
a. $5,280.15
b. $1,270.40
c. $4,045.66
d. $4,843.40
please select the best answer from the choices provided
a
b
c
d

Explanation:

Step1: Identify the formula for tax

Tax amount = Taxable income × Tax rate. Here, taxable income is $79,400 and tax rate is 6.1% (or 0.061 in decimal).

Step2: Calculate the tax

Multiply the taxable income by the tax rate: $79,400 × 0.061.
First, calculate 79400 × 0.061:
79400 × 0.06 = 4764
79400 × 0.001 = 79.4
Add them together: 4764 + 79.4 = 4843.4
So the tax amount is $4,843.40.

Answer:

d. $4,843.40