Respuesta :
The state income tax owed on $50,000 per year salary is $2,604
What is progressive tax?
Progressive tax system charges individual's earnings to taxes with higher tax rates as the earnings increase.
In this case, the first $2000 is charged to tax at 2%, the next $7000($9000-$2000) is charged to tax at 5% and any amount above $9,000 has tax rate of 5.4%, evidently, higher tax rates apply higher income thresholds.
Tax on the first $2000=$2000*2%
Tax on the first $2000=$40
Tax on the next $7000=$7000*5%
Tax on the next $700=$350
Tax on the balance above $9000=($50000-$9000)*5.4%
Tax on the balance above $9000=$41,000*5.4%
Tax on the balance above $9000=$2,214
Total taxes owed on $50,000 yearly salary=$40+$350+$2,214
Total taxes owed on $50,000 yearly salary=$2,604
Find out more about progressive tax on:https://brainly.com/question/16653199
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