# Calculus

New York state income tax is based on taxable income which is part of a person's total income. The tax owed to the state is calculated using taxable income (not total income). In 2005, for a single person with a taxable income between \$20,000 and \$100,000, the tax owed was \$973 plus 6.85% of the taxable income over \$20,000. Answer the following questions, and DO NOT include any commas in your final answers.
(a) Compute the tax owed by a person whose taxable income is \$81,000.
tax = \$ (round to nearest dollar)

(b) Consider a lawyer whose taxable income is 90% of her total income, \$x, where x is between \$60,000 and \$120,000. Write a formula for T(x), the amount of taxable income (not the tax owed, yet).
T(x) =

(c) Write a formula for L(x), the amount owed by the lawyer in part (b).
L(x) =

(d) Use L(x) to evaluate the tax liability (amount owed) for x = 90 ,000 and compare your results to part (a).
L( 90000 ) = \$ (round to nearest dollar)

1. 👍 1
2. 👎 0
3. 👁 976
1. a) 973 + .0685 ( 81000 - 20000)

b) T = .9 x

c) L = 973 + .0685 (.9 x - 20000)

d) 973 + .0685 (.9*90000 - 20000) same as a above

1. 👍 2
2. 👎 0

## Similar Questions

1. ### math

The deductions from Jennifer Millerâ€™s monthly pay are federal income tax (FIT) of \$87, state income tax (SIT) of 2.5% of gross, city income tax (CIT) of 1.2% of gross, Social Security, and Medicare.Her monthly next pay is

2. ### math

If someone paid \$59.00 on their taxable income with a state income tax rate of 6%, determine the amount of their taxable income.

3. ### ECONOMICS

Suppose you are a typical person in the U.S. economy. You pay 4 percent of your income in state income tax and 15.3 percent of your labor earnings in federal payroll taxes (employer and employee shares combined). You also pay

4. ### Economics

Mallory's total income last year was \$24,000, but she could deduct \$12,000 for various reasons. Her taxable income equals the amount left over after deductions. If she had to pay 15 percent of her taxable income in federal income

1. ### accounts

The differences between the book basis and tax basis of the assets and liabilities of Castle Corporation at the end of 2008 are presented below.  It is estimated that the litigation liability will be settled in 2009. The

2. ### Computer Programming

Must be in pseudocode. Compute the income tax due on taxable income entered by the user, given the data as shown in the following table. Be sure to include error checking to make sure the user does not enter a negative number.

3. ### math

3. The gross income of David Vaughn is \$785 per week. His deductions are \$42.25, FICA tax; \$90.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income for one week? A. \$675.32 B. \$628.77 [C.

4. ### Economics

Suppose that the Government runs a pension fund to which all workers must contribute. The employee contribution rate is 6.2 percent on the first \$84,900 of income. All income in excess of \$84,900 is not taxed for pension purposes.

1. ### Global Economics

RedBall Productions is a new company based in Orem, Utah. RedBall supplies stock images of still photography. Utah's state corporate income tax consists of a flat tax rate of 5% on all corporate income. RedBall Production's

2. ### englewood

The gross income of Ginger Hughes is \$215 per week. Her deductions are: \$15.16, FICA tax; \$29.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income?

3. ### math 3

The gross income of Ginger Hughes is \$215 per week. Her deductions are: \$15.16, FICA tax; \$29.33, income tax; 2% state tax; 1% city tax; and 3% retirement fund. What is her net income? Please explain to me

4. ### Economics

1) In which of the following situations would someone have to pay a gift tax? A. A relative dies and leaves you \$13,000 in the will. B. Your cousin gives you a car worth \$1,700. C. Your grandmother gives you \$13,000 toward