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Tax Rates 2008 |
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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 |
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E-Mail brent@hallidaycpa.com |
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2008 INDIVIDUAL TAX RATES |
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MARRIED FILING JOINTLY |
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Taxable Income |
Pay+ |
% |
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$0 |
- |
$16,050 |
$0 |
10.00% |
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$16,050 |
- |
$65,100 |
$1,605 |
15.00% |
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$65,100 |
- |
$131,450 |
$8,963 |
25.00% |
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$131,450 |
- |
$200,300 |
$25,550 |
28.00% |
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$200,300 |
- |
$357,700 |
$44,828 |
33.00% |
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$357,700 |
- |
and over |
$96,770 |
35.00% |
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SINGLE |
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Taxable Income |
Pay+ |
% |
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$0 |
- |
$8,025 |
$0 |
10.00% |
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$8,025 |
- |
$32,550 |
$803 |
15.00% |
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$32,550 |
- |
$78,850 |
$4,481 |
25.00% |
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$78,850 |
- |
$164,550 |
$16,056 |
28.00% |
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$164,550 |
- |
$357,700 |
$40,052 |
33.00% |
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$357,700 |
- |
and over |
$103,792 |
35.00% |
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HEAD OF HOUSEHOLD |
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Taxable Income |
Pay+ |
% |
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$0 |
- |
$11,450 |
$0 |
10.00% |
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$11,450 |
- |
$43,650 |
$1,145 |
15.00% |
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$43,650 |
- |
$112,650 |
$5,975 |
25.00% |
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$112,650 |
- |
$182,400 |
$23,225 |
28.00% |
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$182,400 |
- |
$357,700 |
$42,755 |
33.00% |
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$357,700 |
- |
and over |
$100,604 |
35.00% |
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MARRIED FILING SEPARATELY |
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Taxable Income |
Pay+ |
% |
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$0 |
- |
$8,025 |
$0 |
10.00% |
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$8,025 |
- |
$32,550 |
$803 |
15.00% |
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$32,550 |
- |
$65,725 |
$4,481 |
25.00% |
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$65,725 |
- |
$100,150 |
$12,775 |
28.00% |
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$100,150 |
- |
$178,850 |
$22,414 |
33.00% |
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$178,850 |
- |
and over |
$48,385 |
35.00% |