Question

b. use the given information from various states to

1. income: $95,500

state income tax rate: 6.5%
what is the state income tax paid?
2.

1. income: $47,500

state income tax rate: 6.5%
what is the income remaining?

Explanation:

Problem 1:

Step1: Recall tax formula

Tax paid = Income × Tax Rate. Convert 6.5% to decimal: \( 6.5\% = 0.065 \).

Step2: Calculate tax paid

Income is $95,500. So tax paid = \( 95500 \times 0.065 \).
\( 95500 \times 0.065 = 6207.5 \)

Step1: Find tax paid

First, calculate tax paid using Tax paid = Income × Tax Rate. Tax rate 6.5% = 0.065, income $47,500. So tax = \( 47500 \times 0.065 \).
\( 47500 \times 0.065 = 3087.5 \)

Step2: Calculate remaining income

Remaining income = Income - Tax paid. So \( 47500 - 3087.5 = 44412.5 \)

Answer:

The state income tax paid is $6,207.50.

Problem 3: