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# Mr. Hernandez, who was a resident of State X for only 8

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Intern
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Mr. Hernandez, who was a resident of State X for only 8 [#permalink]

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02 Aug 2013, 10:29
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Difficulty:

25% (medium)

Question Stats:

78% (01:55) correct 22% (01:53) wrong based on 23 sessions

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Mr. Hernandez, who was a resident of State X for only 8 months last year, had a taxable income of $22,500 for the year. If the state tax rate were 4 percent of the year’s taxable income prorated for the proportion of the year during which the taxpayer was a resident, what would be the amount of Mr. Hernandez’s State X tax for last year? (A)$900
(B) $720 (C)$600
(D) $300 (E)$60
[Reveal] Spoiler: OA
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02 Aug 2013, 11:11
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bsahil wrote:
Mr. Hernandez, who was a resident of State X for only 8 months last year, had a taxable income of $22,500 for the year. If the state tax rate were 4 percent of the year’s taxable income prorated for the proportion of the year during which the taxpayer was a resident, what would be the amount of Mr. Hernandez’s State X tax for last year? (A)$900
(B) $720 (C)$600
(D) $300 (E)$60

Total tax for the year = 22,500 x 4% = 900
As stated Annual tax is prorated as per the duration of stay.
Prorated Tax = 900 (8/12) = 600
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Re: Mr. Hernandez, who was a resident of State X for only 8 [#permalink]

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03 Apr 2017, 06:34
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Re: Mr. Hernandez, who was a resident of State X for only 8 [#permalink]

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03 Apr 2017, 07:13
Total tax for the 12 months: $22,500 * 4% =$900

6 months of taxes: $450 The prompt asks for the total taxes paid for 8 months. If 6 months of taxes is$450, 8 months would have to be a little bit more than $450. The next value up from$450 is \$600.

Re: Mr. Hernandez, who was a resident of State X for only 8   [#permalink] 03 Apr 2017, 07:13
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