Table 2. Taxable income and tax after averaging.
|
Year |
Taxable income |
End of 15% taxable income bracket |
Tax on averaged income |
|
1995 |
$36,000 |
$39,000 |
$5,400 |
|
1996 |
$38,000 |
$40,100 |
$5,700 |
|
1997 |
$41,000 |
$41,200 |
$6,150 |
|
1998 |
$42,000 |
$42,350 |
$6,300 |
|
Total tax 1995-98 |
$23,550 |
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