What was the income tax rate in 2013?

What was the income tax rate in 2013?

2013 Tax Brackets and Rates

Single Married Filing Jointly
10% $0 to $8,925 $0 to $17,850
15% $8,926 to $36,250 $17,851 to $72,500
25% $36,251 to $87,850 $72,501 to $146,400
28% $87,851 to $183,250 $146,401 to $223,050

What was the corporate tax rate in 2014?

According to 2014 data from the OECD, the combined federal and state statutory corporate tax rate for the United States is 39.1 percent.

How do you calculate corporate taxes?

Corporate Tax Calculation Evaluate the corporation’s taxable income using this formula: Taxable income = Adjusted Gross Income – All Applicable Deductions. Multiply the corporation tax percentage with the taxable income to determine the corporation tax liability: Corporate Tax=Taxable Income × Corporate Tax Rate.

What were the 2016 tax brackets?

2016 Income Tax Brackets The Federal income tax has 7 brackets: 10%, 15%, 25%, 28%, 33%, 35%, and 39.6%. The amount of tax you owe depends on your income level and filing status. It’s important to understand that moving into a higher tax bracket does not mean that all of your income will be taxed at a higher rate.

What was the tax rate in 2016?

Taxpayers fall into one of seven 2016 tax brackets, depending on their taxable income: 10%, 15%, 25%, 28%, 33%, 35% or 39.6%….How We Make Money.

Tax rate Single Head of household
10% $0 to $18,550 $0 to $9,275
15% $18,551 to $75,300 $9,276 to $37,650
25% $75,301 to $151,900 $37,651 to $75,950

What was the corporate tax rate in 2017?

21%
Among other things, P.L. 115-97 permanently reduced the 35% CIT rate on resident corporations to a flat 21% rate for tax years beginning after 31 December 2017.

How do I calculate my business income taxable?

The rate of surcharge is 7% in case the total income is above one crore rupees and up to Rs 10 crore….Tax rates applicable.

Sections Tax rate Surcharge
Section 115BA (Companies having turnover up to Rs 400 crore in FY 2017-18) 25% 7%/12%*
Section 115BAA 22% 10%
Section 115BAB 15% 10%
Any other case 30% 7%/12%*

What are the 2017 tax tables?

Taxpayers for 2017 fall into one of seven brackets, depending on their taxable income: 10%, 15%, 25%, 28%, 33%, 35% or 39.6%….How We Make Money.

Tax rate Single Head of household
10% Up to $9,325 Up to $13,350
15% $9,326 to $37,950 $13,351 to $50,800
25% $37,951 to $91,900 $50,801 to $131,200

What are the 2013 federal income tax tables?

The IRS has released the 2013 federal income tax tables, which include annual inflation adjustments, standard deductions and other tax changes from the American Taxpayer Relief Act, also known as the fiscal cliff deal. The AMT exemption amount for TY 2013 will be $51,900 ($80,800 married/joint).

What are the tax exemptions for 2012 and 2013?

The bill sets the 2012 exemption level at $50,600 for single filers and $78,750 for joint filers and adjusts these amounts for inflation thereafter. In 2013, inflation adjustments will result in an exemption level of $51,900 for single filers and $80,800 for joint filers, according to our calculations.

What are federal income tax rates and thresholds?

Federal Income Tax Rates and Thresholds are used to calculate the amount of Federal Income Tax due each year based on annual income. The Income Tax Rates and Thresholds used depends on the filing status used when completing an annual tax return.

What is the new AMT rate for 2013?

The AMT exemption amount for TY 2013 will be $51,900 ($80,800 married/joint). The AMT is now pinned to inflation. For tax year 2013 (returns that most will file by April 2014), the new top rate is 39.6 percent for individual income over $400,000, or $450,000 for married taxpayers filing jointly.