12172018What's Hot:

What’s in the tax bill

Conference Agreement

The top tax rate would be set at 37 percent. The standard deduction would be doubled. There would remain seven brackets — 10 percent, 12 percent, 22 percent, 24 percent, 32 percent, 35 percent and 37 percent.  Individuals face the 37 percent rate when their incomes exceed $ 500,000. For joint filers, the threshold is $ 600,000. For individuals, the 35 percent bracket begins at $ 200,000, the 32 percent bracket starts at $ 157,500, the 24 percent bracket kicks in at $ 82,500, the 22 percent bracket begins at $ 38,700, the 12 percent bracket starts at $ 9,525 and the rate is 10 percent for income less than $ 9,525.   For joint filers, the 35 percent bracket begins at $ 400,000, the 32 percent bracket starts at $ 315,000, the 24 percent bracket kicks in at $ 165,000, the 22 percent bracket begins at $ 77,400, the 12 percent bracket starts at $ 19,050 and the rate is 10 percent for income less than $ 19,050.

Source: POLITICO – TOP Stories

comments powered by HyperComments

More on the topic