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Estimated Income Tax Brackets and Rates

Jan 19, 2017 (0) comment

In 2017, the income limits for all brackets and all filers will be adjusted for inflation and will be as follows (Table 1). The top marginal income tax rate of 39.6 percent will hit taxpayers with taxable income of $418,400 and higher for single filers and $470,700 and higher for married couples filing jointly.

Table 1. Single Taxable Income Brackets and Rates, 2017

Rate Taxable Income Bracket Tax Owed

10%

$0 to $9,325 10% of Taxable Income

15%

$9,325 to $37,950 $932.50 plus 15% of the excess over $9325

25%

$37,950 to $91,900 $5,226.25 plus 25% of the excess over $37,950

28%

$91,900 to $191,650 $18,713.75 plus 28% of the excess over $91,900

33%

$191,650 to $416,700 $46,643.75 plus 33% of the excess over $191,650

35%

$416,700 to $418,400 $120,910.25 plus 35% of the excess over $416,700

39.60%

$418,400+ $121,505.25 plus 39.6% of the excess over $418,400

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