Tax Information 2004 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 $ 7,150 $ 0 10% $ 0 7,150 29,050 715.00 15% 7,150 29,050 70,350 4,000.00 25% 29,050 146,750 319,100 35,717.00 33% 146,750 319,100 ------- 92,592.50 35% 319,100
Standard Deduction: $4,850 Personal Exemptions Deduction: $3,100 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $142,700; fully phased out at adjusted gross income above $265,200.
Married/Joint Returns or Qualifying Widow(er):
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 14,300 $ 0 10% $ 0 14,300 58,100 1,430.00 15% 14,300 117,250 178,650 22,787.50 28% 117,250 178,650 319,100 39,979.50 33% 178,650 319,100 ------- 86,328.00 35% 319,100
Standard Deduction: $9,700 Personal Exemptions Deduction: $3,100 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $214,050; fully phased out at adjusted gross income above $336,550.
Married/Separate Returns:
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 7,150 $ 0 10% $ 0 7,150 29,050 715.00 15% 7,150 58,625 89,325 11,393.75 28% 58,625 89,325 159,550 19,989.75 33% 89,325 159,550 ------- 43,147.50 35% 159,550
Standard Deduction: $4,850 Personal Exemptions Deduction: $3,100 per exemption, reduced by 2% for each $1,250 adjusted gross income in excess of $107,025; fully phased out at adjusted gross income above $168,275.
Heads of Households:
If Taxable Income Is Over But Not Over The Tax Is Plus Of the Amount Over $ 0 $ 10,200 $ 0 10% $ 0 10,200 38,900 1,020 15% 10,200 38,900 100,500 5,325.00 25% 38,900 162,700 319,100 38,141.00 33% 162,700 319,100 ------- 89,753.00 35% 319,100
Standard Deduction: $7,150 Personal Exemptions Deduction: $3,100 per exemption, reduced by 2% for each $2,500 adjusted gross income in excess of $178,350; fully phased out at adjusted gross income above $300,850.
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