Marc, a single taxpayer, earns $99,000 in taxable income and $3,100 in interest from an investment in city of birmingham bonds. using the u. s. tax rate schedule for year 2019, what is his current marginal tax rate?

Current marginal rate tax = (18678.5/102100 ) * 100 = 18.3%

Explanation:

10% bracket( 9700 - 0) * 0.1 = $970.0

12% bracket($39475-$9700) *.12 = $3573

22%bracket($84200 - 39475) * .22 = $9839.5

24%bracket[(990000+3100) - 84200] * .24 = $4296

Total marginal rate tax = 970+3573+ 9839.5+ 4296.00 = $18678.5

Current marginal rate tax = (18678.5/102100 ) * 100 = 18.3%

answer; (10%) commission;