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Schedule ND 1CR North Dakota Office of State Tax Commissioner Calculation of Credit for Income Tax Paid to Another State Attach Form

Schedule ND 1CR North Dakota Office of State Tax Commissioner Calculation of Credit for Income Tax Paid to Another State Attach Form

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Video instructions and help with filling out and completing Schedule ND 1CR North Dakota Office Of State Tax Commissioner Calculation Of Credit For Income Tax Paid To Another State Attach To Form ND 1 Please Type Or Print In Black Or Blue Ink

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I want to explain to you how tax brackets work in the USA so let's say that you make $100,000 a year this pile of money represents $100,000 so let's get this organized by tax brackets so you're looking at a total of $100,000 in the first pile of money is $111,000 in the second pile $ 33,785 thirdd pile $50,605 $4,625 the reason why I'm showing you this $100,000 organized into these four piles is because that's how tax brackets work so you see the first $111,000 that you make will be taxed at 10% the next $33,750 that you make will be taxed at a rate of 12% the next $50,605 of 22% the next $4,625 that you make will be taxed at a rate of 24% so in this example if you have $100,000 of taxable income you're going to pay total taxes of $177,400 so your effective tax rate is 17.4% that's $177,400 in taxes divided by $100,000 of taxable income so this is how tax brackets work a lot of people incorrectly believe that if you make $100,000

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