Tax rates increase as your income increases. The tax rates apply only to the income in each tax bracket range. Also, the tax rates apply only to your taxable income. There are various adjustments and deductions that all lower a person’s taxable income. Taxable income is almost always less than your total income.

Tax Brackets for Single Filing Status:

 

  • Your income is under $8,350 then you will be taxed the least amount 10%.
  • Your income falls between $8,350 and $33,950; you will be taxed 15% plus $835.
  • Your income falls between $33,950 and $82,250; you will be taxed 25% plus $4,675.
  • Your income falls between $82,250 and $171,550; you will be taxed 28% plus $16,750.
  • Your income falls between $171,550 and $372,950; you will be taxed 33% plus $41,754.
  • Your income is greater than $372,950; you will be taxed the maximum of 35% plus $108,216.

Tax brackets for Married filing jointly:

 

  • If you are filing married instead of single for the 10% and 15% brackets you will double the income rate for the single filing status, listed above.
  • Once your income falls between $67,900 and $137,050; you will be taxed 25% plus $9,350.
  • Your income falls between $137,050 and $208,850; you will be taxed 28% plus $26,637.50.
  • Your income falls between $208,850 and $372.950; you will be taxed 33% plus $46,741.50.
  • Your income is greater than $372, 950; you will be taxed the maximum of 35% plus $100,894.50.

Individuals can use the tax rate schedules in a number of ways to help plan their finances. You can use these tax rates to figure out how much tax you will pay on extra income you earn. For a taxpayer in the 25% tax bracket, extra income will be taxed at that rate until the taxpayer reaches the next tax bracket.

By answering a few basic questions TurboTax Online can calculate the tax you will be liable for based on your income level. Visit TurboTax Online today to calculate your tax liability for your state tax return.

It is very important to do some research on the rules of the state that you have either lived or worked in as different rules apply to income property and the amount of income earned from that property.