What is true of the following statement is correct concerning taxpayers filing a

Question

What is true of the following statement is correct concerning taxpayers filing as head of household with a taxable income of $150,000? A the marginal tax for taxpayers filing head of household is lower than the marginal tax rate for a single taxpayer B the marginal tax rate for taxpayers filing as head of household is the same as the marginal tax rate for a married filing jointly taxpayer C the Marginal tax rate for taxpayers filing as head of household is the same as the marginal tax rate for a single taxpayer D the marginal tax rate for taxpayers filing as head of household is not comparatable to the marginal tax rate for a single or married filing married taxpayers

Explanation / Answer

Marginal tax rate applicable for taxpayers with taxable income of $150,000 is

single - 28%

Married filing joint / surviving spouse- 25%

Head of household - 28%

Married filing separate - 33%.

Of the given statements, option - c is correct in the given situation. Head of household and single taxpayers has the same marginal tax rate for a taxable income of $150,000.

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