What average tax rate will result in a percent increases, Accounting Basics

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What average tax rate will result in a percent increases

Congress would like to increase tax revenues by 12 percent. Assume that the average taxpayer in the Unived States earns 112,500 and pays an average rate of 19%. If the income tax effect is in effect for all taxpayers, what average tax rate will result in a 12 percent increase in tax revenues?

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Request for Solution File

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Accounting Basics: What average tax rate will result in a percent increases

Reference No:- TGS0707462

Have a Question? (oR Write a Review)

Recent Questions Asked Accounting Basics

Q : What is the ending balance of goods in process inventory

Q : What is the most profitable sales mix for the foam pet

Q : How much of the proceeds would be allocated

Q : Market yield for bonds of similar risk

Q : What average tax rate will result in a percent increases

Q : Determine whaleco gain from its sale of the minnowco

Q : What is the balance in agees investment account at the end

Q : Explain how gains and losses are reported

Q : Remains a constant proportion of sales

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Request for Solution File

Ask an Expert for Answer!!

Accounting Basics: What average tax rate will result in a percent increases

Reference No:- TGS0707462

Recent Questions Asked Accounting Basics

Q : What is the ending balance of goods in process inventory

Q : What is the most profitable sales mix for the foam pet

Q : How much of the proceeds would be allocated

Q : Market yield for bonds of similar risk

Q : What average tax rate will result in a percent increases

Q : Determine whaleco gain from its sale of the minnowco

Q : What is the balance in agees investment account at the end

Q : Explain how gains and losses are reported

Q : Remains a constant proportion of sales

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