Tax Information 2003 Federal Income Tax Rates for Individuals
(revised for JGTRRA 2003)
Single Individuals:
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 7,000 $ 0 10% $ 0 7,000 28,400 700.00 15% 7,000 28,400 68,800 3,910.00 25% 28,400 143,500 311,950 34,926.00 33% 143,500 311,950 ------- 90,514.50 35% 311,950
Standard Deduction: $4,750 Personal Exemptions Deduction: $3,050 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $139,500; fully phased out at adjusted gross income above $262,000.
Married/Joint Returns or Qualifying Widow(er):
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 14,000 $ 0 10% $ 0 14,000 56,800 1,400.00 15% 14,000 114,650 174,700 22,282.50 28% 114,650 174,700 311,950 39,096.50 33% 174,700 311,950 ------- 84,389.00 35% 311,950
Standard Deduction: $9,500 Personal Exemptions Deduction: $3,050 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $209,250; fully phased out at adjusted gross income above $331,750.
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 23,725 600.00 15% 6,000 57,325 87,350 11,658.75 28% 57,325 87,350 155,975 20,065.75 33% 87,350 155,975 ------- 42,712.00 35% 155,975
Standard Deduction: $4,750 Personal Exemptions Deduction: $3,050 per exemption, reduced by 2% for each $1,250 adjusted gross income in excess of $104,625; fully phased out at adjusted gross income above $165,875.
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 38,050 1,000 15% 10,000 38,050 98,250 5,207.50 25% 38,050 159,100 311,950 37,295.50 33% 159,100 311,950 ------- 87,736.00 35% 311,950
Standard Deduction: $7,000 Personal Exemptions Deduction: $3,050 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $174,400; fully phased out at adjusted gross income above $296,900.
© 1995-2004 VSA, LP