It is 1902. I make $45,000 per year (I am rich). How much do I owe in FEDERAL income taxes? Where is this addressed?

The amount you owe income taxes is $1,350

in the year 1902 , there were not established Federal Tax rate. Therefore the tax rate that was applicable on Taxable Income from the year 1895 - 1912 depended on 1894 established Federal

the tax rate for Taxable income lesser than $20,000 is 2.0% while 3.0% for income less than $50,000

Therefore, for $45,000, the tax rate of 3% will be applied

Tax Amount = Taxable income * Tax rate

Tax Amount = $45,000 * 3%

Tax Amount = $1,350

Therefore, in conclusion , the amount you owe in income taxes is $ 1,350

Explanation:

Thank me later Hope this explain a little bit >33

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