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 |