2016
| SINGLE | |
| Taxable Income | Tax Rate |
| $0 – $9,275 | 10% |
| $9,276 – $37,650 | 15% |
| $37,651 – $91,150 | 25% |
| $91,151 – $190,150 | 28% |
| $190,151 – $413,350 | 33% |
| $413,351 – $415,050 | 35% |
| $415,051 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Single phase out AGI1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$259,400 |
| Standard Deductions | |
| Single | $6,300 |
| Additional Deduction (If Blind or Age 65+) | |
| Single | $1,550 |
1AGI = Adjusted Gross Income
| MARRIED FILING SEPARATELY | |
| Taxable Income | Tax Rate |
| $0 – $9,275 | 10% |
| $9,276 – $37,650 | 15% |
| $37,651 – $75,950 | 25% |
| $75,951 – $115,725 | 28% |
| $115,726 – $206,675 | 33% |
| $206,676 – $233,475 | 35% |
| $233,476 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Married Filing Separately phase out 1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$154,950 |
| Standard Deductions | |
| Married Filing Separately | $6,300 |
| Additional Deduction (If Blind or Age 65+) | |
| Married | $1,250 |
1AGI = Adjusted Gross Income
| MARRIED FILING JOINTLY | |
| Taxable Income | Tax Rate |
| $0 – $18,550 | 10% |
| $18,551 – $75,300 | 15% |
| $75,301 – $151,900 | 25% |
| $151,901 – $231,450 | 28% |
| $231,451 – $413,350 | 33% |
| $413,351 – $466,950 | 35% |
| $466,951 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Married Filing Jointly phase out 1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$311,300 |
| Standard Deductions | |
| Married Filing Jointly | $12,600 |
| Additional Deduction (If Blind or Age 65+) | |
| Married | $1,250 |
1AGI = Adjusted Gross Income
| HEAD OF HOUSEHOLD | |
| Taxable Income | Tax Rate |
| $0 – $13,250 | 10% |
| $13,251 – $50,400 | 15% |
| $50,401 – $130,150 | 25% |
| $130,151 – $210,800 | 28% |
| $210,801 – $413,350 | 33% |
| $413,351 – $441,000 | 35% |
| $441,001 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Head of Household phase out 1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$284,050 |
| Standard Deductions | |
| Head of Household | $9,300 |
| Additional Deduction (If Blind or Age 65+) | |
| Head of Household | $1,550 |
1 AGI = Adjusted Gross Income
| TRUSTS & ESTATES | |
| Taxable Income | Tax Rate |
| $0 – $2,550 | 15% |
| $2,551 – $5,950 | 25% |
| $5,951 – $9,050 | 28% |
| $9,051 – $12,400 | 33% |
| $12,401 + | 39.6% |
| CORPORATIONS | |
| Taxable Income | Tax Rate |
| $0 – $50,000 | 15% |
| $50,001 – $75,000 | 25% |
| $75,001 – $100,000 | 34% |
| $100,001 – $335,000 | 39% |
| $335,001 – $10,000,000 | 34% |
| $10,000,001 – $15,000,000 | 35% |
| $15,000,001 – $18,333,333 | 38% |
| $18,333,334 + | 35% |
2017
| SINGLE | |
| Taxable Income | Tax Rate |
| $0 – $9,325 | 10% |
| $9,326 – $37,950 | 15% |
| $37,951 – $91,900 | 25% |
| $91,901 – $191,650 | 28% |
| $191,651 – $416,700 | 33% |
| $416,701 – $470,700 | 35% |
| $470,701 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Single phase out AGI1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$261,500 |
| Standard Deductions | |
| Single | $6,350 |
| Additional Deduction (If Blind or Age 65+) | |
| Single | $1,550 |
1AGI = Adjusted Gross Income
| MARRIED FILING SEPARATELY | |
| Taxable Income | Tax Rate |
| $0 – $9,325 | 10% |
| $9,326 – $37,950 | 15% |
| $37,951 – $76,550 | 25% |
| $76,551 – $116,675 | 28% |
| $116,676 – $208,350 | 33% |
| $208,351 – $235,350 | 35% |
| $235,351 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Married Filing Separately phase out 1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$156,900 |
| Standard Deductions | |
| Married Filing Separately | $6,350 |
| Additional Deduction (If Blind or Age 65+) | |
| Married | $1,250 |
1AGI = Adjusted Gross Income
| MARRIED FILING JOINTLY | |
| Taxable Income | Tax Rate |
| $0 – $18,650 | 10% |
| $18,651 – $75,900 | 15% |
| $75,901 – $153,100 | 25% |
| $153,101 – $233,350 | 28% |
| $233,351 – $416,700 | 33% |
| $416,701 – $470,700 | 35% |
| $470,701 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Married Filing Jointly phase out 1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$313,800 |
| Standard Deductions | |
| Married Filing Jointly | $12,700 |
| Additional Deduction (If Blind or Age 65+) | |
| Married | $1,250 |
1AGI = Adjusted Gross Income
| HEAD OF HOUSEHOLD | |
| Taxable Income | Tax Rate |
| $0 – $13,350 | 10% |
| $13,351 – $50,800 | 15% |
| $50,801 – $131,200 | 25% |
| $131,201 – $212,500 | 28% |
| $212,501 – $416,700 | 33% |
| $416,701 – $444,550 | 35% |
| $444,551 + | 39.6% |
| Exemptions (Subject to phase out) | |
| Personal Exemption Amount | $4,050 |
| Head of Household phase out 1 (for each $2,500 of AGI1 over threshold, exemptions reduce 2%) |
$287,650 |
| Standard Deductions | |
| Head of Household | $9,350 |
| Additional Deduction (If Blind or Age 65+) | |
| Head of Household | $1,550 |
1AGI = Adjusted Gross Income
| TRUSTS & ESTATES | |
| Taxable Income | Tax Rate |
| $0 – $2,550 | 15% |
| $2,551 – $6,000 | 25% |
| $6,001 – $9,150 | 28% |
| $9,151 – $12,500 | 33% |
| $12,501 + | 39.6% |
| CORPORATIONS | |
| Taxable Income | Tax Rate |
| $0 – $50,000 | 15% |
| $50,001 – $75,000 | 25% |
| $75,001 – $100,000 | 34% |
| $100,001 – $335,000 | 39% |
| $335,001 – $10,000,000 | 34% |
| $10,000,001 – $15,000,000 | 35% |
| $15,000,001 – $18,333,333 | 38% |
| $18,333,334 + | 35% |
The information presented here is not intended to be a comprehensive analysis. Chernoff Diamond is a benefits advisory firm and does not provide tax or legal advice. Individuals or Employers should consult with qualified legal and/or tax counsel for guidance in respect of matters of law, tax and related regulation.
