Tax Rates
Tax Rates
The following sets out key tax rates for 2020
2020 Tax Brackets for Single Filers and Married Couples Filing Jointly
| Tax Rate | Taxable Income (Single) | Taxable Income (Married Filing Jointly) |
|---|---|---|
| 10% | Up to $9,875 | Up to $19,750 |
| 12% | $9,876 to $40,125 | $19,751 to $80,250 |
| 22% | $40,126 to $85,525 | $80,251 to $171,050 |
| 24% | $85,526 to $163,300 | $171,051 to $326,600 |
| 32% | $163,301 to $207,350 | $326,601 to $414,700 |
| 35% | $207,351 to $518,400 | $414,701 to $622,050 |
| 37% | Over $518,400 | Over $622,050 |
2020 Tax Brackets for Married Couples Filing Separately and Head-of-Household Filers
| Tax Rate | Taxable Income (Married Filing Separately) | Taxable Income (Head of Household) |
|---|---|---|
| 10% | Up to $9,875 | Up to $14,100 |
| 12% | $9,876 to $40,125 | $14,101 to $53,700 |
| 22% | $40,126 to $85,525 | $53,701 to $85,500 |
| 24% | $85,526 to $163,300 | $85,501 to $163,300 |
| 32% | $163,301 to $207,350 | $163,301 to $207,350 |
| 35% | $207,351 to $311,025 | $207,351 to $518,400 |
| 37% | Over $311,025 | Over $518,400 |