this table shows the 2014 federal income tax brackets for single taxpayers. single taxpayers (2014) taxable…

this table shows the 2014 federal income tax brackets for single taxpayers. single taxpayers (2014) taxable income between: tax rate $0 $9,075 10% $9,075 $36,900 15% $36,900 $89,350 25% $89,350 $186,350 28% $186,350 $405,100 33% $405,100 $406,750 35% $406,750 and above 39.6% phung works as a pharmacist in tampa, florida. her income is $116,200 a year. which statements about phungs income and tax situation are correct? check all that apply. phung will pay 28% of her total income in state taxes. the first $9,075 she makes each year will be taxed at 10%. portions of phungs income will be taxed at 10%, 15%, 25%, and 28%. phung will pay 28% of her total income in federal taxes. after $36,000, phungs taxable income will experience the greatest tax bracket increase.

this table shows the 2014 federal income tax brackets for single taxpayers. single taxpayers (2014) taxable income between: tax rate $0 $9,075 10% $9,075 $36,900 15% $36,900 $89,350 25% $89,350 $186,350 28% $186,350 $405,100 33% $405,100 $406,750 35% $406,750 and above 39.6% phung works as a pharmacist in tampa, florida. her income is $116,200 a year. which statements about phungs income and tax situation are correct? check all that apply. phung will pay 28% of her total income in state taxes. the first $9,075 she makes each year will be taxed at 10%. portions of phungs income will be taxed at 10%, 15%, 25%, and 28%. phung will pay 28% of her total income in federal taxes. after $36,000, phungs taxable income will experience the greatest tax bracket increase.

Answer

Explanation:

Step1: Analyze tax - bracket for first income range

The first income range is from $0$ to $9075$ with a $10%$ tax rate. Since Phung's income is $116200$, the first $9075$ of her income will be taxed at $10%$. So the statement "The first $9,075$ she makes each year will be taxed at $10%$" is correct.

Step2: Analyze overall tax - brackets for Phung's income

Phung's income of $116200$ falls into the range of $89350 - 186350$ with a $28%$ tax rate for the portion of income in this range. Her income also has portions in the $0 - 9075$ (taxed at $10%$), $9075 - 36900$ (taxed at $15%$), and $36900 - 89350$ (taxed at $25%$) brackets. So portions of her income will be taxed at $10%$, $15%$, $25%$, and $28%$.

Step3: Analyze incorrect statements

There is no information about state - tax rate in the given table, so we cannot say she will pay $28%$ of her total income in state taxes. Also, she will not pay $28%$ of her total income in federal taxes as it is a progressive tax system. After $36900$, the tax - bracket increase is from $15%$ to $25%$ (a $10$ percentage - point increase), but after $89350$, the tax - bracket increase is from $25%$ to $28%$ (a $3$ percentage - point increase), so the statement about the greatest tax - bracket increase after $36000$ is incorrect.

Answer:

The first $9,075$ she makes each year will be taxed at $10%$. Portions of Phung's income will be taxed at $10%$, $15%$, $25%$, and $28%$.