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JKCPA
JKCPA, CPA
Category: Tax
Satisfied Customers: 5884
Experience:  CPA with tax experience.
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HOW MUCH WOULD I HAVE TO PAY IN TAXES ON 450,000.00 TO IRS

Customer Question

HOW MUCH WOULD I HAVE TO PAY IN TAXES ON 450,000.00 TO IRS AND NC IF I LIVE IN BRUNSWICK COUNTY NC
Submitted: 6 years ago.
Category: Tax
Expert:  JKCPA replied 6 years ago.
Hello,

Thanks for your question.

Assuming you flie single, have no dependents, claim one exemption for yourself, this is ordinary income, do not itemize, have no other credits or taxes, are not self-employed, the estimated tax based on 2009 tax rates would be:
Federal: $132,337
NC state: $34,981

Hope this helps,

Edited by JK_CPA on 11/10/2010 at 10:08 PM EST
JKCPA and other Tax Specialists are ready to help you
Customer: replied 6 years ago.
need to know how much in taxes will i have to pay to irs nc on 23,310.00 if i live in brunswick county nc
Expert:  JKCPA replied 6 years ago.
Is this in addition to the $450,000 or do you mean just on $23,310 total gross income?
Customer: replied 6 years ago.
TAXES ON 23,310.00 GROSS IRS AND NC STATE TAXES
Expert:  JKCPA replied 6 years ago.
With the same assumptions, the federal tax on $23,310 ordinary income would be about $1679 (or $1279 if this is earned income due to the making work pay credit) and the NC state tax would be about $1120.