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What would the Federal income tax be on one million dollars?

What would the Federal income... Show More

What would the Federal income tax be on one million dollars?

Submitted: 11 years ago.
Category: Tax
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Lev, Tax Advisor
Satisfied Customers: 29502
Experience: Taxes, Immigration, Labor Relations
replied 11 years ago.

For such amount Tax Rate Schedule should be used. Assuming you are single



  • On the first $326,450 taxes are $94,727.50

  • Additional $673,550 are taxed at 35% that is $235,742.50

  • Total amount will be - $330,470

Please verify if this is correct.