Question

What Are the Breakdowns for Different Tax Brackets?

Forum|Forum|4 years ago
October 27, 2021
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What are the percentages taxed on different levels of income? E.g., if I earn $100,000, I’m in x bracket for y%.
If I earn $30,000, I’m in x bracket for y%.

NancyDrew

There are seven tax brackets, with the lowest tax bracket being subject to a 10% marginal tax rate and the highest being subject to a 37% marginal tax rate. Your marginal tax rate depends on your taxable income within the brackets. The tax bracket income thresholds also depend on your filing status. Here is a chart from a great article, What is a Tax Bracket? ,which explains the tax brackets in the chart in more depth: