State tax math challenge
The N.C. Department of Revenue must have an arrangement with the Department of Public Instruction to test taxpayers' math skills.
Check out the exercises on page 25 of your North Carolina tax instruction booklet: 2005 Tax Rate Schedule.
For example, if you're single with taxable income between $60,000 and $120,000, your tax is $4,072.50 + 7.75% of the amount over $60,000.
Or if you're married filing jointly with taxable income between $21,250 and $100,000, your tax is $1,275 + 7% of the amount over $21,250.
Or if you're married filing separately and your taxable income is between $50,000 and $100,000, your tax is $3,393.75 + 7.75% of the amount over $50,000.
Are our schools producing people who can figure out their taxes? Not likely. I know college graduates who can't work problems like these.
And why is it harder to do your state taxes than federal?
Comments (3)
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I hope you're not being serious...seems like pretty simple arithmatic to me...
If you look at the federal table, once you get to the top rate, it works the same way. Of course, income has to be pretty high to have the need for it. If, however, you fall into the alternative minimum tax (which I believe about 1/3 of tax-paying Americans will within the next couple years if legislation isn't changed), federal taxes become a nightmare.
Of course you could just move to Florida, Texas, Nevada, Washington, Tennessee, New Hampshire, Wyoming, South Dakota or Alaska and avoid the problem all-together.
By the way, it's April 9 and you're just getting around to filing taxes? Why the procrastination?
Posted on April 9, 2006 11:25 PM
I would expect calculus to be simple math for you, Kenny.
I'm pushing the tax deadline because I owe money to the feds ... so let them wait.
Posted on April 10, 2006 8:45 AM
And why is the state tax form four pages when the fed is two? This drives me up the wall.
Posted on April 10, 2006 12:22 PM