| |
Tax Rates1 |
|
Bottom bracket |
Top bracket |
|
Calendar
Year |
Rate
(percent) |
Taxable income
up to |
Rate
(percent) |
Taxable income
over |
| |
|
|
|
|
|
1913-15 |
1 |
$20,000 |
7 |
$500,000 |
|
1916 |
2 |
20,000 |
15 |
2,000,000 |
|
1917 |
2 |
2,000 |
67 |
2,000,000 |
|
1918 |
6 |
4,000 |
77 |
1,000,000 |
|
1919-20 |
4 |
4,000 |
73 |
1,000,000 |
|
1921 |
4 |
4,000 |
73 |
1,000,000 |
|
1922 |
4 |
4,000 |
56 |
200,000 |
|
1923 |
3 |
4,000 |
56 |
200,000 |
|
1924 |
21.5 |
4,000 |
46 |
500,000 |
|
1925-28 |
21? |
4,000 |
25 |
100,000 |
|
1929 |
24? |
4,000 |
24 |
100,000 |
|
1930-31 |
21? |
4,000 |
25 |
100,000 |
|
1932-33 |
4 |
4,000 |
63 |
1,000,000 |
|
1934-35 |
34 |
4,000 |
63 |
1,000,000 |
|
1936-39 |
34 |
4,000 |
79 |
5,000,000 |
|
1940 |
34.4 |
4,000 |
81.1 |
5,000,000 |
|
1941 |
310 |
2,000 |
81 |
5,000,000 |
|
1942-433 |
319 |
2,000 |
88 |
200,000 |
|
1944-45 |
23 |
2,000 |
594 |
200,000 |
|
1946-47 |
19 |
2,000 |
586.45 |
200,000 |
|
1948-49 |
16.6 |
4,000 |
582.13 |
400,000 |
|
1950 |
17.4 |
4,000 |
591 |
400,000 |
|
1951 |
20.4 |
4,000 |
591 |
400,000 |
|
1952-53 |
22.2 |
4,000 |
592 |
400,000 |
|
1954-63 |
20 |
4,000 |
591 |
400,000 |
|
1964 |
16 |
1,000 |
77 |
400,000 |
|
1965-67 |
14 |
1,000 |
70 |
200,000 |
|
1968 |
14 |
1,000 |
675.25 |
200,000 |
|
1969 |
14 |
1,000 |
677 |
200,000 |
|
1970 |
14 |
1,000 |
671.75 |
200,000 |
|
1971 |
14 |
1,000 |
770 |
200,000 |
|
1972-78 |
814 |
1,000 |
770 |
200,000 |
|
1979-80 |
814 |
2,100 |
770 |
212,000 |
|
1981 |
8
913.825 |
2,100 |
7
9
69.125 |
212,000 |
|
1982 |
812 |
2,100 |
50 |
106,000 |
|
1983 |
811 |
2,100 |
50 |
106,000 |
|
1984 |
811 |
2,100 |
50 |
159,000 |
|
1985 |
811 |
2,180 |
50 |
165,480 |
|
1986 |
811 |
2,270 |
50 |
171,580 |
|
1987 |
811 |
3,000 |
38.5 |
90,000 |
|
1988 |
815 |
29,750 |
1028 |
29,750 |
|
1989 |
815 |
30,950 |
1028 |
30,950 |
|
1990 |
815 |
32,450 |
1028 |
32,450 |
|
1991 |
815 |
34,000 |
31 |
82,150 |
|
1992 |
815 |
35,800 |
31 |
86,500 |
|
1993 |
815 |
36,900 |
39.6 |
250,000 |
|
1994 |
815 |
38,000 |
39.6 |
250,000 |
|
1995 |
815 |
39,000 |
39.6 |
256,500 |
|
1996 |
815 |
40,100 |
39.6 |
263,750 |
|
1997 |
815 |
41,200 |
39.6 |
271,050 |
|
1998 |
815 |
42,350 |
39.6 |
278,450 |
|
1999 |
815 |
43,050 |
39.6 |
283,150 |
|
2000 |
815 |
43,850 |
39.6 |
288,350 |
|
1
Taxable income excludes zero bracket amount from 1977 through
1986. Rates shown apply only to married persons filing joint
returns beginning in 1948. Does not include either the add on
minimum tax on preference items (1970-1982) or the alternative
minimum tax (1979-present). Also, does not include the effects of
the various tax benefit phase-outs (e.g. the personal exemption
phase-out). From 1922 through 1986 and from 1991 forward, lower
rates applied to long-term capital gains.
2
After earned-income deduction equal to 25 percent of earned
income.
3
After earned-income deduction equal to 10 percent of earned
income.
4
Exclusive of Victory Tax.
5
Subject to the following maximum effective rate limitations.
[year
and maximum rate (in percent)] 1994-45 - 90; 1946-47 - 85.5;
1948-49 - 77.0; 1950 - 87.0; 1951 - 87.2; 1952-53 - 88.0; 1954-63
- 87.0.
6
Includes surcharge of 7.5 percent in 1968, 10 percent in 1969, and
2.6 percent in 1970.
7 Earned income was subject to maximum marginal rates of 60 percent
in 1971 and 50 percent from 1972 through 1981.
8
Beginning in 1975, a refundable earned-income credit is allowed
for low-income individuals.
9
After tax credit is 1.25 percent against regular tax.
10
The benefit of the first rate bracket is eliminated by an
increased rate above certain thresholds. The phase-out range of
the benefit of the first rate bracket was as follows: Taxable
income between $71,900 and $149,250 in 1988; taxable income
between $74,850 and $155,320 in 1989; and t axable income between
$78,400 and $162,770 in 1990. The phase-out of the benefit the
first rate bracket was repealed for taxable years beginning after
December 31, 1990. This added 5 percentage points to the marginal
rate for those affected by the phaseout, producing a 33 percent
effective rate.
Source: Congressional Joint Committee on
Taxation
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