What percentage of taxes do people pay no matter what there income may be?
This question can be answered in many ways. First and foremost, the percentage of taxes you owe to the IRS every year is determined entirely by the amount of income you bring in during a given year. On the federal level, there are sections called tax brackets that dictate what percentage you will pay based on your income. If you make a lot of money, then expect to be placed in a higher tax bracket; vice versa if you make an average income or lower. If you are an individual who makes below approximately $10,000 a year, then you are exempt from taxes. On the state level, things can work the same way. Some states, like California for example, have tax brackets, while others have a generally set percentage. In Missouri, if you make over $10,000, then the set rate is at 6%. Really, when it comes to income taxes it really depends on the state in which you live in, as well as the amount of income you bring in on a yearly basis.