|
| |
|
| Federal Income Tax
Marginal Rates |
|
Tax Brackets for 2003 and 2004 for Individuals, Trusts and
Corporations
|
|
Marginal Federal Tax Rates
Based on Taxable Income
|
2003
|
2004
|
|
Single Taxpayers
|
|
|
|
- 10% rate up to
|
7,000
|
7,150 |
|
| - 15% rate up to |
28.400 |
29,050 |
|
- 25% rate up to
|
68,800
|
70,350
|
|
| - 28% rate up to |
143,500 |
146,750
|
|
| - 33% rate up to |
311,950 |
319,100
|
|
| - 35% for amounts over |
311,950 |
319,100
|
|
Married filing Joint Return
|
|
|
|
| - 10% rate up to |
14,000
|
14,300
|
|
| - 15% rate up to |
56,800 |
58,100
|
|
| - 25% rate up to |
114,650 |
117,250
|
|
| - 28% rate up to |
174,700 |
178,650
|
|
| - 33% rate up to |
311,950
|
319,100
|
|
| - 35% rate for amounts over |
311,950 |
319,100
|
|
Head of Household
|
|
|
|
| - 10% rate up to |
10,000
|
10,200
|
|
| - 15% rate up to |
38,050
|
38,900
|
|
| - 25% rate up to |
98,250
|
100,500
|
|
| - 28% rate up to |
159,100
|
162,700
|
|
| - 33% rate up to |
311,950
|
319,100
|
|
| - 35% rate for amounts over |
311,950
|
319,100
|
|
Married Filing Separate Return
|
|
|
|
| - 10% rate up to |
7,000
|
7,150
|
|
| - 15% rate up to |
28,400
|
29,050
|
|
| - 25% rate up to |
57,325
|
58,625
|
|
| - 28% rate up to |
87,350
|
89,325
|
|
| - 33% rate up to |
155,975
|
159,550
|
|
| - 35% rate for amounts over |
155,975
|
159,550
|
|
Estates & Trusts
|
|
|
|
| - 10% rate up to |
0
|
0
|
|
| - 15% rate up to |
1,900 |
1,950
|
|
| - 28% rate rate up to |
4,500
|
4,600
|
|
| - 33% rate rate up to |
6,850
|
7,000
|
|
| - 35% rate rate to |
9,350
|
9,550
|
|
| - 35% rate for amouns over |
9,350
|
9,550
|
|
Corporations (No change for 2003 or
2004)
|
|
|
|
| - 15% rate up to |
50,000 |
50,000 |
|
| - 25% rate up to |
75,000 |
75,000 |
|
| - 34% rate up to |
100,000 |
100,000 |
|
| - 39% rate up to |
335,000 |
335,000 |
|
| - 34% rate up to |
10,000,000 |
10,000,000 |
|
| - 35% rate up to |
15,000,000 |
15,000,000 |
|
| - 38% rate up to |
18,333,333 |
18,333,333 |
|
| - 35% rate for amounts over |
18,333,333 |
18,333,333 |
|
|
|
|
|
- personal service corporation -
35% for amounts over |
0 |
0 |
|
|
|
|
|
Contact Information: Vernon K. Jacobs, PO Box 8194,
Prairie Village, KS 66208 Phone (913) 362-9667 Email to jacobs [at]
vernonjacobs.com
|
|