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What is the tax owed by a married couple filing jointly who report a taxable income of [tex]\$97,025[/tex]?

\[
\begin{array}{|c|c|c|c|c|c|}
\hline
\multicolumn{2}{|l|}{\text{Taxable income is}} & \multicolumn{4}{|c|}{\text{And you are}} \\
\hline
\text{At least} & \text{But less than} & \text{Single} & \text{Married filing jointly} & \text{Married filing separately} & \text{Head of household} \\
\hline
& & \multicolumn{4}{|c|}{\text{Your tax is}} \\
\hline
97,000 & 97,050 & 20,149 & 15,734 & 20,609 & 18,509 \\
\hline
97,050 & 97,100 & 20,163 & 15,776 & 20,623 & 18,521 \\
\hline
97,100 & 97,150 & 20,177 & 15,759 & 20,637 & 18,534 \\
\hline
97,150 & 97,200 & 20,191 & 15,771 & 20,651 & 18,546 \\
\hline
97,200 & 97,250 & 20,205 & 15,784 & 20,665 & 18,559 \\
\hline
97,250 & 97,300 & 20,219 & 15,796 & 20,679 & 18,571 \\
\hline
97,300 & 97,350 & 20,233 & 15,809 & 20,693 & 18,584 \\
\hline
97,350 & 97,400 & 20,247 & 15,821 & 20,707 & 18,596 \\
\hline
\end{array}
\]

The taxable income of [tex]\$97,025[/tex] falls between [tex]97,000[/tex] and [tex]97,050[/tex], so the tax owed by a married couple filing jointly is [tex]\$15,734[/tex].

Answer :

To determine the tax owed by a married couple filing jointly with a taxable income of [tex]$97,025, we can follow these steps:

1. Identify the relevant tax bracket for the couple's taxable income using the provided tax table.

2. The couple’s taxable income is $[/tex]97,025. We need to find the income bracket where [tex]$97,025 fits.

3. According to the tax table, the relevant bracket for married couples filing jointly is "at least $[/tex]97,000 but less than [tex]$97,050". Since $[/tex]97,025 falls within this range, we will use this bracket to determine the tax owed.

4. For this income bracket, the tax owed by a married couple filing jointly is [tex]$15,734.

Therefore, the tax owed by the married couple filing jointly with a taxable income of $[/tex]97,025 is $15,734.

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