Tax Information 2002 Federal Income Tax Rates for Individuals
Single Individuals:
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 6,000 $ 0 10% $ 0 6,000 27,950 600.00 15% 6,000 27,950 67,700 3,982.50 27% 27,950 141,250 307,050 36,690.00 35% 141,250 307,050 ------- 94,720.00 38.6% 307,050
Standard Deduction: $4,700 Personal Exemptions Deduction: $3,000 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $137,300
Married/Joint Returns or Qualifying Widow(er):
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 12,000 $ 0 10% $ 0 12,000 46,700 1,200.00 15% 12,000 112,850 171,950 24,265.50 30% 112,850 171,950 307,050 41,995.50 35% 171,950 307,050 ------- 89,280.50 38.6% 307,050
Standard Deduction: $7,850 Personal Exemptions Deduction: $3,000 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $206,000
Married/Separate Returns:
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 6,000 $ 0 10% $ 0 6,000 23,350 600.00 15% 6,000 56,425 85,975 12,132.75 30% 56,425 85,975 153,525 20,997.75 35% 85,975 153,525 ------- 44,640.25 38.6% 153,525
Standard Deduction: $3,925 Personal Exemptions Deduction: $3,000 per exemption, reduced by 2% for each $1,250 adjusted gross income in excess of $103,000
Heads of Households:
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 10,000 $ 0 10% $ 0 10,000 37,450 1,000 15% 10,000 37,450 96,700 5,117.50 27% 37,450 156,600 307,050 39,095.00 35% 156,600 307,050 ------- 91,742.50 38.6% 307,050
Standard Deduction: $6,900 Personal Exemptions Deduction: $3,000 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $171,650
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