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If taxable income is over $10,550 but not over $14,450 the tax is $2,126.00 plus 35% of the excess over $10,550
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If taxable income is over $2,900 but not over $10,550 the tax is $290.00 plus 24% of the excess over $2,900 If taxable income is less than $2,900 the tax is 10% of taxable income If taxable income is over $44,725 but not over $95,375 the tax is $5,147.00 plus 22% of the excess over $44,725 If taxable income is over $11,000 but not over $44,725 the tax is $1,100.00 plus 12% of the excess over $11,000 If taxable income is over $59,850 but not over $95,350 the tax is $6,868.00 plus 22% of the excess over $59,850 If taxable income is over $15,700 but not over $59,850 the tax is $1,570.00 plus 12% of the excess over $15,700 If taxable income is not over $15,700: the tax is 10% of taxable income If taxable income is over $44,725 but not over $95,375 the tax is $5,147.00 If taxable income is over $11,000 but not over $44,725 the tax is $1,100.00 plus 12% of the amount over $11,000 If taxable income is not over $11,000 the tax is 10% of taxable income If taxable income is over $693,750 the tax is $186,601.50 plus 37% of the amount over $693,750įor single individuals (other than heads of households and surviving spouses): If taxable income is over $22,000 but not over $89,450 the tax is $2,200.00 plus 12% of the amount over $22,000 If taxable income is under $22,000 the tax is 10% of taxable income The tax rate schedules for 2023 will be as follows.įor married individuals filing joint returns and surviving spouses: See Payroll Update, regarding other estimated key figures. Thomson Reuters Checkpoint has calculated the 2023 tax brackets, as well as other inflation-adjusted tax numbers based on the recently released August 2022 inflation rate.
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