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

Customer Question

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

Submitted: 10 years ago.
Category: Tax
Expert:  Lev replied 10 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.

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