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| Personal Income Tax Rates | |||||||
| Last Nine Calendar Years | |||||||
| (Expressed in Thousands) | |||||||
|
Top Income Tax Rate is Applied to Taxable Income in Excess of the following brackets |
|||||||
|---|---|---|---|---|---|---|---|
| Year |
Median Rate |
Single/ Married Filing Separate |
Married Filing Jointly |
Head of Household |
Average Effective Rate |
||
| No records returned. | |||||||
| <%=FP_FieldVal(fp_rs,"year")%> | <%=FP_FieldVal(fp_rs,"sub")%> | <%=FP_FieldVal(fp_rs,"median")%> | <%=FP_FieldVal(fp_rs,"single")%> | <%=FP_FieldVal(fp_rs,"married")%> | <%=FP_FieldVal(fp_rs,"head")%> | <%=FP_FieldVal(fp_rs,"aveffrate")%> |
Income Tax Rate is Applied to Taxable Income by income range for the same brackets |
| For taxable years commencing on or after January 1, 2011: [2] | |||||||
| No records returned. | |||||||
| <%=FP_FieldVal(fp_rs,"rate")%> | <%=FP_FieldVal(fp_rs,"single")%> | <%=FP_FieldVal(fp_rs,"married")%> | <%=FP_FieldVal(fp_rs,"head")%> | <%=FP_FieldVal(fp_rs,"aveffrate")%> | |||
Notes:
[1] Taxable income equal to or less than amounts listed this
year is taxed at a rate of 3%.
In addition there is a tax on millionaires of 6.5%. The average effective rate
equals fiscal year
net tax collections divided by prior-year total personal income based on
statistics provided by
the U. S. Bureau of Economic Analysis.
[2] Taxable income equal to or less than amounts listed this year is taxed at a
rate of 3% except as follows.
The amount to which the 3% rate applies is reduced by $1,000 for each $5,000, or
fraction thereof, by which AGI
exceeds $56,500 for singles and by $1,000 for each $2,500 for filing separately,
by $1,600 for each $4,000 for head of household and by $2,000 for each $5,000 or
fraction thereof, by which AGI exceeds $56,500, $50,250 $78,500 and $100,500 for
single, filing separately, head of house hold and filing jointly
Source: Department of Revenue Services -Annual Report.