To calculate the state income tax owed on a [tex]$50,000 per year salary, we need to apply the given progressive tax rates to the corresponding income ranges. Here’s a step-by-step breakdown of how to determine the total tax:
1. Income Range $[/tex]0 - 4,000[tex]$ at 2%:
- Taxable income in this range: $[/tex]4,000 - [tex]$0 = $[/tex]4,000[tex]$
- Tax at 2%: $[/tex]4,000 \times 0.02 = [tex]$80$[/tex]
2. Income Range [tex]$4,001 - 22,000$[/tex] at 4%:
- Taxable income in this range: [tex]$22,000 - $[/tex]4,001 = [tex]$17,999$[/tex]
- Tax at 4%: [tex]$17,999 \times 0.04 = $[/tex]719.96[tex]$
3. Income Range $[/tex]22,001 +[tex]$ at 5%:
- Taxable income in this range: $[/tex]50,000 - [tex]$22,001 = $[/tex]27,999[tex]$
- Tax at 5%: $[/tex]27,999 \times 0.05 = [tex]$1,399.95$[/tex]
Finally, add up the taxes from all ranges to find the total state income tax owed:
[tex]\[
\text{Total Tax} = \$80 + \$719.96 + \$1,399.95 = \$2,199.91
\][/tex]
Therefore, the state income tax owed on a [tex]$50,000 per year salary is \(\$[/tex]2,199.91\).
