Tax Rate Schedules
Tax Rates
Below are the tax rates on ordinary income. Tax rates progressively increase as income increases. The tax rates apply only to the income in each tax bracket range. Tax rates apply only to taxable income. Non-taxable income encompasses tax-free interest on municipal bonds, above-the-line adjustments, itemized deductions or the standard deduction, and personal exemptions. Taxable income is almost always less than your total income. Capital gains are taxed at different tax rates. Capital gains tax rates are lower than ordinary income tax rates, and are calculated separately.
Note: These tax rate schedules are provided for tax planning purposes. To compute your actual income tax, please see the 2006 instructions for Form 1040, 1040A, or 1040EZ as appropriate.
Single Filing Status
(Tax Rate Schedule X)
10% on income between $0 and $7,550
15% on the income between $7,550 and $30,650; plus $755.00
25% on the income between $30,650 and $74,200; plus $4,220.00
28% on the income between $74,200 and $154,800; plus $15,107.50
33% on the income between $154,800 and $336,550; plus $37,675.50
35% on the income over $336,550; plus $97,653.00
Married Filing Jointly or Qualifying Widow(er) Filing Status
(Tax Rate Schedule Y-1)
10% on the income between $0 and $15,100
15% on the income between $15,100 and $61,300; plus $1,510.00
25% on the income between $61,300 and $123,700; plus $8,440.00
28% on the income between $123,700 and $188,450; plus $24,040.00
33% on the income between $188,450 and $336,550; plus $42,170.00
35% on the income over $336,550; plus $91,043.00
Married Filing Separately Filing Status
