Tax Rates 2008

Example:  Married taxpayer with $50,000 taxable income.  Tax would be $1,605 + $5,093 ($50,000-16,050 = $33,950 X 15%)  = $6,698

2008 INDIVIDUAL TAX RATES

 

 

 

 

 

MARRIED FILING JOINTLY

Taxable Income

Pay+

%

$0

-

$16,050

$0

10.00%

$16,050

-

$65,100

$1,605

15.00%

$65,100

-

$131,450

$8,963

25.00%

$131,450

-

$200,300

$25,550

28.00%

$200,300

-

$357,700

$44,828

33.00%

$357,700

-

and over

$96,770

35.00%

SINGLE

Taxable Income

Pay+

%

$0

-

$8,025

$0

10.00%

$8,025

-

$32,550

$803

15.00%

$32,550

-

$78,850

$4,481

25.00%

$78,850

-

$164,550

$16,056

28.00%

$164,550

-

$357,700

$40,052

33.00%

$357,700

-

and over

$103,792

35.00%

HEAD OF HOUSEHOLD

Taxable Income

Pay+

%

$0

-

$11,450

$0

10.00%

$11,450

-

$43,650

$1,145

15.00%

$43,650

-

$112,650

$5,975

25.00%

$112,650

-

$182,400

$23,225

28.00%

$182,400

-

$357,700

$42,755

33.00%

$357,700

-

and over

$100,604

35.00%

MARRIED FILING SEPARATELY

Taxable Income

Pay+

%

$0

-

$8,025

$0

10.00%

$8,025

-

$32,550

$803

15.00%

$32,550

-

$65,725

$4,481

25.00%

$65,725

-

$100,150

$12,775

28.00%

$100,150

-

$178,850

$22,414

33.00%

$178,850

-

and over

$48,385

35.00%