READ: How Much Do We Pay in IncomeTaxes?
In the United States, income tax rates are subject to changes in tax laws. Read about the current income tax rates on the web page below. Notice the way that marginal tax rates work: one tax rate applies for the first $8500 a single person earns (10%), then for the next $26,0000 a person earns in the same year, he or she pays tax on this income at a higher rate (15%), and so on. You won't be tested on how the marginal tax system works but you should be aware of the range of tax rates for income tax in the U.S.
In the United States, income tax rates are subject to changes in tax laws. Read about the current income tax rates on the web page below. Notice the way that marginal tax rates work: one tax rate applies for the first $8500 a single person earns (10%), then for the next $26,0000 a person earns in the same year, he or she pays tax on this income at a higher rate (15%), and so on. You won't be tested on how the marginal tax system works but you should be aware of the range of tax rates for income tax in the U.S.
Last modified: Thursday, 14 June 2012, 4:20 PM