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anonymous
 5 years ago
It’s tax time. Your state income taxes are based on your gross income and the amount of federal income taxes you pay. You have a gross income of $60,000 per year. You only pay taxes on your gross income less your federal income taxes paid. You pay $5,000 federal income taxes. You then pay 0% state taxes on the first $20,000 of remaining income and 5% state taxes on your remaining income above $20,000. Put this problem into the form of an equation and solve for your state income tax.
anonymous
 5 years ago
It’s tax time. Your state income taxes are based on your gross income and the amount of federal income taxes you pay. You have a gross income of $60,000 per year. You only pay taxes on your gross income less your federal income taxes paid. You pay $5,000 federal income taxes. You then pay 0% state taxes on the first $20,000 of remaining income and 5% state taxes on your remaining income above $20,000. Put this problem into the form of an equation and solve for your state income tax.

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anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0I just need help setting up the equation

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0600005000 = 55000 20000* 0 + .05(5500020000)

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0do you understand what to do sbenner?

anonymous
 5 years ago
Best ResponseYou've already chosen the best response.0looking at what was stated earlier it seems easy enough
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