Comment · Sun, July 22, 2012

Corporation That Paid Nothing In Taxes For Four Years Tells Congress It Pays Too Much In Taxes: 'Corning Inc. was one of 26 companies that managed to avoid paying any American income taxes, even though it earned nearly $3 billion during that time.'

What they were answering

wikkedwhite · 6 points

Holy shit, and uncle sam is exspecting me to pay 4800 on 32k?!

u/MisterYouAreSoDumb

Taxes on $32K with no extra deductions would be $3,615, not $4,800.

$0-$8,700 is taxed at 10%, then the remaining $23,300 would be reduced by the standard $5,000 deduction, if you have no other write offs. So that leaves you with $18,300 that would be taxed at 15%.

Other MYASD lines in this thread

Comment · Sun, July 22, 2012 · 2 pts
Uncle Sam usually means the US government, not the state. If he's lucky enough to be in Alaska/Nevada/Florida/South Dakota/Texas/Washington/Wyoming, then there are $0 state income taxes as well!

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