Tax Rates

There are 7  Federal income tax rates: 10%, 12%, 22%, 24%, 32%, 35%, and 37%. Your tax rate is based on your taxable income level and filing status.

(taxes due in April 2020, or in October 2020 with an extension) 

Single

Taxable IncomeTax Rate
$0 – $9,70010% of taxable income
$9,701 – $39,7475$970 plus 12% of the amount over $9,700
$39,476 – $84,200$4,543 plus 22% of the amount over $39,475
$84,201 – $160,725$14,382.50 plus 24% of the amount over $84,200
$160,726 – $204,100$32,748.50 plus 32% of the amount over $160,725
$204,101 – $510,300$46,628.50 plus 35% of the amount over $204,100
$510,301 or more$153,798.50 plus 37% of the amount over $510,300

 

Married Filing Separately

Taxable IncomeTax Rate
$0 – $9,70010% of taxable income
$9,701 – $39,475$970 plus 12% of the amount over $9,700
$39,476 – $84,200$4,543 plus 22% of the amount over $39,475
$84,201 – $160,725$14,382.50 plus 24% of the amount over $84,200
$160,726 – $204,100$32,748.50 plus 32% of the amount over $160,725
$204,101 to $306,175$46,628.50 plus 35% of the amount over $204,100
$306,176 or more$82,354.75 plus 37% of the amount over $306,175

Married Filing Jointly

Taxable IncomeTax Rate
$0 – $19,40010% of taxable income
$19,401 – $78,950$1,940 plus 12% of the amount over $19,400
$78,951 – $168,400$9,086 plus 22% of the amount over $78,950
$168,401 – $321,450$28,765 plus 24% of the amount over $168,400
$321,451 – $408,200$65,497 plus 32% of the amount over $321,450
$408,201 – $612,350$93,257 plus 35% of the amount over $408,200
$612,351 or more$164,709.50 plus 37% of the amount over $612,350

 

Head of Household

Taxable IncomeTax Rate
$0 – $13,85010% of taxable income
$13,851 – $52,850$1,385 plus 12% of the amount over $13,850
$52,851 – $84,200$6,065 plus 22% of the amount over $52,850
$84,201 – $160,700$12,962 plus 24% of the amount over $84,200
$160,701 – $204,100$31,322 plus 32% of the amount over $160,700
$204,101 – $510,300$45,210 plus 35% of the amount over $204,100
$510,301 or more$152,380 plus 37% of the amount over $510,300

Standard Deduction Amounts

Filing StatusStandard Deduction
Single$12,200
Married Filing Jointly or Qualifying Widow(er)$24,400
Married Filing Separately$12,200
Head of Household$18,350