8
QuizMultiple Choice

Personal Income and Property Taxes

Question 8 • 26-27 Ignite Technical Math-Financial Math - MA2007

Mark lives in a state that charges him 6.1% income tax on his federal taxable income. If his federal taxable income is $79,400, how much does Mark pay in state income tax?

Answer
A
$5,280.15
B
$1,270.40
C
$4,045.66
D
$4,843.40

Explanation

Convert 6.1% to a decimal: 0.061. Multiply Mark’s federal taxable income by the tax rate: $79,400 × 0.061 = $4,843.40, so the state income tax is $4,843.40.

AI-written and checked against the verified answer.

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