Tax Rate Guide for 2009 and 2010

Tax Rate Guide for 2010/2011

Standard Mileage Rates
Corporate Tax Rate Schedule
Individual Tax Rate Schedules
Standard Deductions/Personal Exemptions
Capital Gains and Dividends Taxed as Net Capital Gain
Alternative Minimum Tax
Tax Rate Schedules for Estates and Nongrantor Trusts
Applicable Exclusion Amount for Estate Tax
Applicable Exclusion Amount for Gift Tax
Gift Tax Annual Exclusion
ERISA and Tax Code Pension and Retirement Plan Limits

Standard Mileage Rates

	2009	2010
Business	55.0 cents per mile	50.0 cents per mile
Charitable	14.0 cents per mile	14.0 cents per mile
Medical and Moving	24.0 cents per mile	16.5 cents per mile

Corporate Tax Rate Schedule

If Taxable Income Is		The Tax Is:
Not over $50,000		15% of the taxable income
Over $50,000	but not over $75,000	$7,500 plus	25% of the amount over $50,000
Over $75,000	but not over $100,000	$13,750 plus	34% of the amount over $75,000
Over $100,000	but not over $335,000	$22,250 plus	39% of the amount over $100,000
Over $335,000	but not over $10,000,000	$113,900 plus	34% of the amount over $335,000
Over $10,000,000	but not over $15,000,000	$3,400,000 plus	35% of the amount over $10,000,000
Over $15,000,000	but not over $18,333,333	$5,150,000 plus	38% of the amount over $15,000,000
Over 18,333,333		35% of the taxable income
Qualified personal service corporations are taxed at a flat rate of 35% of taxable income

Individual Tax Rate Schedules

2009

2009 Unmarried Individuals (Other than Surviving Spouses and Heads of Households)

If Taxable Income Is:		The Tax Is:
Not over $8,350		10% of the taxable income
Over $8,350	but not over $33,950	$835.00 plus	15% of the excess over $8,350
Over $33,950	but not over $82,250	$4,675.00 plus	25% of the excess over $33,950
Over $82,250	but not over $171,550	$16,750.00 plus	28% of the excess over $82,250
Over $171,550	but not over $372,950	$41,754.00 plus	33% of the excess over $171,550
Over $372,950		$108,216.00 plus	35% of the excess over $372,950

2009 Married Individuals Filing Joint Returns and Surviving Spouses

If Taxable Income Is:		The Tax Is:
Not over $16,700		10% of the taxable income
Over $16,700	but not over $67,900	$1,670.00 plus	15% of the excess over $16,700
Over $67,900	but not over $137,050	$9,350.00 plus	25% of the excess over $67,900
Over $137,050	but not over $208,850	$26,637.50 plus	28% of the excess over $137,050
Over $208,850	but not over $372,950	$46,741.50 plus	33% of the excess over $208,850
Over $372,950		$100,894.50 plus	35% of the excess over $372,950

2009 Married Individuals Filing Separate Returns

If Taxable Income Is:		The Tax Is:
Not over $8,350		10% of the taxable income
Over $8,350	but not over $33,950	$835.00 plus	15% of the excess over $8,350
Over $33,950	but not over $68,525	$4,675.00 plus	25% of the excess over $33,950
Over $68,525	but not over $104,425	$13,318.75 plus	28% of the excess over $68,525
Over $104,425	but not over $186,475	$23,370.75 plus	33% of the excess over $104,425
Over $186,475		$50,447.25 plus	35% of the excess over $186,475

2009 Heads of Households

If Taxable Income Is:		The Tax Is:
Not over $11,950		10% of the taxable income
Over $11,950	but not over $45,500	$1,195.00 plus	15% of the excess over $11,950
Over $45,500	but not over $117,450	$6,227.50 plus	25% of the excess over $45,500
Over $117,450	but not over $190,200	$24,215.00 plus	28% of the excess over $117,450
Over $190,200	but not over $372,950	$44,585.00 plus	33% of the excess over $190,200
Over $372,950		$104,892.50 plus	35% of the excess over $372,950

2010

2010 Unmarried Individuals (Other than Surviving Spouses and Heads of Households)

If Taxable Income Is:		The Tax Is:
Not over $8,375		10% of the taxable income
Over $8,375	but not over $34,000	$837.50 plus	15% of the excess over $8,375
Over $34,000	but not over $82,400	$4,681.25 plus	25% of the excess over $34,000
Over $82,400	but not over $171,850	$16,781.25 plus	28% of the excess over $82,400
Over $171,850	but not over $373,650	$41,827.25 plus	33% of the excess over $171,850
Over $373,650		$108,421.25 plus	35% of the excess over $373,650

2010 Married Individuals Filing Joint Returns and Surviving Spouses

If Taxable Income Is:		The Tax Is:
Not over $16,750		10% of the taxable income
Over $16,750	but not over $68,000	$1,675.00 plus	15% of the excess over $16,750
Over $68,000	but not over $137,300	$9,362.50 plus	25% of the excess over $68,000
Over $137,300	but not over $209,250	$26,687.50 plus	28% of the excess over $137,300
Over $209,250	but not over $373,650	$46,833.50 plus	33% of the excess over $209,250
Over $373,650		$101,085.50 plus	35% of the excess over $373,650

2010 Married Individuals Filing Separate Returns

If Taxable Income Is:		The Tax Is:
Not over $8,375		10% of the taxable income
Over $8,375	but not over $34,000	$837.50 plus	15% of the excess over $8,375
Over $34,000	but not over $68,650	$4,681.25 plus	25% of the excess over $34,000
Over $68,650	but not over $104,625	$13,343.75 plus	28% of the excess over $68,650
Over $104,625	but not over $186,825	$23,416.75 plus	33% of the excess over $104,625
Over $186,825		$50,542.75 plus	35% of the excess over $186,825

2010 Heads of Households

If Taxable Income Is:		The Tax Is:
Not over $11,950		10% of the taxable income
Over $11,950	but not over $45,550	$1,195.00 plus	15% of the excess over $11,950
Over $45,550	but not over $117,650	$6,235.00 plus	25% of the excess over $45,550
Over $117,650	but not over $190,550	$24,260.00 plus	28% of the excess over $117,650
Over $190,550	but not over $373,650	$44,672.00 plus	33% of the excess over $190,550
Over $373,650		$105,095.00 plus	35% of the excess over $373,650

Standard Deductions/Personal Exemptions

Standard Deduction Tables

	2009	2010
Married Filing Jointly and Surviving Spouses	$11,400	$11,400
Heads of Households	$8,350	$8,400
Single	$5,700	$5,700
Married Filing Separate	$5,700	$5,700
Additional amount for Aged and Blind	$1,100 for each	$1,100 for each
Additional amount for Aged and Blind if unmarried and not a surviving spouse	$1,400 for each	$1,400 for each

Personal Exemptions and Phaseout Amounts

	2009		2010
Personal Exemption Amount	$3,650		$3,650
Threshold for Refundable Child Tax Credit	$3,000		$3,000
Code section 151(d)(3) phaseout of the tax benefit of the personal exemptions is calculated by reducing the total amount of the personal exemptions by 2 percent for each $2,500 increment (or portion thereof) of adjusted gross income in excess of a threshold phaseout amount adjusted for inflation. These amounts are as follows:
	Tax years beginning in 2009		Tax years beginning in 2010
Type of Taxpayer	Phaseout Begins:	Maximum Phaseout:	Phaseout Begins:	Maximum Phaseout:
Married and Individuals Filing Joint Returns And Surviving Spouses Code Section 1(a)	$250,200	$372,700	N/A	N/A
Heads of Households Code Section 1(b)	$208,500	$331,000	N/A	N/A
Unmarried Individuals (Other Than Surviving Spouses and Heads of Households) Code Section 1(c)	$166,800	$289,300	N/A	N/A
Married Individuals Filing Separate Returns Code Section 1(d)	$125,100	$183,650	N/A	N/A

Capital Gains and Dividends Taxed as Net Capital Gain

Capital Gains

	2005-10		2011
Rate for Non-corporate Taxpayers above 15% income tax bracket	15%		20%
	2005-07	2008-10	2011
Rate for Non-corporate Taxpayers in 10% or 15% tax bracket	5%	0%	10%

Dividends Taxed as Net Capital Gain

	2005-10		2009
Rate for Non-corporate Taxpayers above 15% income tax bracket	15%		*
	2005-07	2008-10	2011
Rate for Non-corporate Taxpayers in 10% of 15% tax bracket	5%	0%	*

* After 2010, dividends will be taxed as ordinary income.

Alternative Minimum Tax

First $175,000 ($87,500 married, separate) of Alternative Minimum Taxable Income

26%

Over $175,000 of Alternative Minimum Taxable Income

28%

EXEMPTIONS:

Married Filing Jointly or Qualifying Widow(er)

$70,950

Married Filing Separate

$35,475

Single or Head of Household

$46,700

EXEMPTION PHASEOUT:

25% of amount AMTI exceeds:

Filing Status	AGI Begin Phaseout	AGI Fully Phaseout
Married Filing Jointly or Qualifying Widow(er)	$150,000	$433,800
Single or Head Of Household	$112,500	$299,300
Married Filing Separate	$75,000	$216,900

Tax Rate Schedules for Estates and Nongrantor Trusts

Code Section 1(e)

2009

If Taxable Income Is:		The Tax Is:
Not over $2,300		15% of the taxable income
Over $2,300	but not over $5,350	$345.00 plus	25% of the excess over $2,300
Over $5,350	but not over $8,200	$1,107.50 plus	28% of the excess over $5,350
Over $8,200	but not over $11,200	$1,905.50 plus	33% of the excess over $8,200
Over $11,150		$2,879.00 plus	35% of the excess over $11,150

2010

If Taxable Income Is:		The Tax Is:
Not over $2,300		15% of the taxable income
Over $2,300	but not over $5,350	$345.00 plus	25% of the excess over $2,300
Over $5,350	but not over $8,200	$1,107.50 plus	28% of the excess over $5,350
Over $8,200	but not over $11,200	$1,905.50 plus	33% of the excess over $8,200
Over $11,200		$2,895.50 plus	35% of the excess over $11,200

Applicable Exclusion Amount for Estate Tax

Year of Transfer	Applicable Exclusion Amount
2006/2007/2008	$2,000,000
2009	$3,500,000
2010	Estate tax is scheduled to be repealed

Applicable Exclusion Amount for Gift Tax

Year of Transfer	Applicable Exclusion Amount
2002-2010	$1,000,000

Gift Tax Annual Exclusion

Year of Transfer	Applicable Exclusion Amount
2002-2005	$11,000
2006-2008	$12,000
2009-2010	$13,000

From 1982 - 2001, the annual gift tax exclusion was $10,000.

ERISA and Tax Code Pension and Retirement Plan Limits

	2009	2010
Deferral Limits for Plans
401(k)	16,500	16,500
SIMPLE	11,500	11,500
403(b)	16,500	16,500
457	16,500	16,500
Catch-Up Contributions for Participants Age 50 or Older
401(k) Plans	5,500	5,500
SIMPLE	2,500	2,500
Qualified Plans - Annual Compensation Limit	245,000	245,000
Defined Benefit Maximum Annual Benefit	195,000	195,000
Defined Contribution - Maximum Annual Addition	49,000	49,000
"Key Employee" in Top-Heavy Plan	160,000	160,000
To Determine Maximum Account Balance in ESOP Subject to 5-Year Distribution Period	985,000	985,000
"Highly Compensated Employee" Threshold	110,000	110,000
SEP Compensation Threshold for Participation	550	550
Definition of "Control Employee" for Fringe Benefit Valuation
Regs. 1.61-21(f)(5)(i)	95,000	95,000
Regs. 1.61-21(f)(5)(iii)	195,000	195,000
Social Security Wage Base	106,800	106,800