contestada

The tax liability of a sole proprietorship with ordinary income of​ $450,000 is closest to​ ________. Range of taxable income Marginal rate ​ $ 0 to​ $ 9,525​ 10% ​ 9,525 to ​ 38,700 12 ​ 38,700 to ​ 82,500 22 ​ 82,500 to ​ 157,500 24 ​ 157,500 to​ 200,000 32 ​ 200,000 to​ 500,000 35

Respuesta :

adioabiola

The tax liability of the sole proprietorship whose income is $450,000 is closest to: $157,500

Income tax rate

According to the supplied tax rate for different income levels;

  • The tax rate for income range of $200,000 to $500,000 is 35%

On this note, the tax liability of the sole proprietorship is;

  • Tax liability = (35/100) × $450,000

  • Tax liability = 0.35 × $450,000

Tax liability = $157,500

Read more on tax rate;

https://brainly.com/question/9437038