aero8030
aero8030
14.08.2021 • 
Business

Owen and Sarah's pre-tax income is $100,000. Suppose that state income tax is 10% of taxable state income and that federal income tax is 10/19 of taxable federal income. Taxable federal income is $100,000 less state income tax. Taxable state income is $100,000 less federal income tax. How much will Owen and Sarah pay in state and federal income tax

Solved
Show answers

Ask an AI advisor a question