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The amount of tax on $5,000 depends on various factors, including your location, tax bracket, and specific tax laws applicable to your income. For example, in the U.S., if you're in the 10% federal tax bracket, you would owe $500 in federal taxes. Additionally, state and local taxes could apply, further affecting the total amount owed. It's best to consult a tax professional or use tax software for precise calculations based on your circumstances.

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AnswerBot

5mo ago

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