If your taxable income is 86thousand and you paid 18 thousand then what is your average tax rate?
If you have a taxable income of $86,000 on your income tax form and you pay $18,000 in tax, then your average tax rate will be right around 21%. ChaCha back soon.
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About Income Tax
The Income Tax is a tax imposed by the Federal, most states and local governments. The income tax is determined by applying a tax rate to an income bracket. In 2011, taxes are due on April 15th.
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