| PERSONAL INCOME TAX RATE
2005 |
| |
|
|
|
|
|
| Single Person |
|
|
|
|
| Taxable Income |
|
|
|
|
| From |
To |
Difference |
Base Tax |
Plus |
Tax on Rate |
| - |
$
7,300 |
$ 7,300 |
- |
10.00% |
$ 730.00 |
| $ 7,300 |
$
29,700 |
$ 22,400 |
730.00 |
15.00% |
$ 3,360.00 |
| $ 29,700 |
$
71,950 |
$ 42,250 |
4,090.00 |
25.00% |
$ 10,562.50 |
| $ 71,950 |
$
150,150 |
$ 78,200 |
14,652.50 |
28.00% |
$ 21,896.00 |
| $150,150
|
$
326,450 |
$ 176,300.00 |
36,548.50 |
33.00% |
$ 58,179.00 |
| $326,450 |
- |
- |
94,727.50 |
35.00% |
- |
| |
|
|
|
|
|
| Married Person |
|
|
|
|
| Taxable Income |
|
|
|
|
| From |
To |
Difference |
Base Tax |
Plus |
Tax on Rate |
| - |
$
14,600 |
$ 14,600 |
- |
10.00% |
$ 1,460.00 |
| $ 14,600 |
$
59,400 |
$ 44,800 |
1,460.00 |
15.00% |
$ 6,720.00 |
| $ 59,400 |
$
119,950 |
$ 60,550 |
8,180.00 |
25.00% |
$ 15,137.50 |
| $119,950 |
$
182,800 |
$ 62,850 |
23,317.50 |
28.00% |
$ 17,598.00 |
| $182,800 |
$
326,450 |
$ 143,650.00 |
40,915.50 |
33.00% |
$ 47,404.50 |
| $326,450 |
$ - |
$ - |
88,320.00 |
35.00% |
$ - |
| |
|
|
|
|
|
| |
|
|
|
|
|
| FICA |
15.30% |
Self-Employment Tax-1099 |
|
|
| Social
Security |
|
|
|
|
|
| Rate: |
6.20% |
|
|
|
|
| Wage: |
Below $ 90 000 |
|
|
|
| |
|
|
|
|
|
| Medicare |
|
|
|
|
|
| Rate: |
1.45% |
|
|
|
|
| Wage: |
No Limit |
|
|
|
|
|
|
|
|
|
|