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Tax RatesTax Rate Guide for 2010 and 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
AMT Tax Brackets
Tax Rate Schedules for Estates and Trusts
Applicable Exclusion Amount for Estate Tax
Lifetime Exclusion Amount for Gift Tax
Gift Tax Annual Exclusion
Estate and Gift Tax Rates for Decedents Dying in 2010/2011
ERISA and Tax Code Pension and Retirement Plan Limits

 

Standard Mileage Rates

  2010 1/1-6/30/11 7/1-12/31/11
Business 50.0 cents per mile 51.0 cents per mile 55.5 cents per mile
Charitable 14.0 cents per mile 14.0 cents per mile 14.0 cents per mile
Medical and Moving 16.5 cents per mile 19.0 cents per mile 23.5 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

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

2011

2011 Unmarried Individuals (Other than Surviving Spouses and Heads of Households)

If Taxable Income Is: The Tax Is:
Not over $8,500 10% of the taxable income
Over $8,500 but not over $34,500 $850.00 plus 15% of the excess over $8,500
Over $34,500 but not over $83,600 $4,750.00 plus 25% of the excess over $34,500
Over $83,600 but not over $174,400 $17,025.00 plus 28% of the excess over $83,600
Over $174,400 but not over $379,150 $42,449.00 plus 33% of the excess over $174,400
Over $379,150   $110,016.50 plus 35% of the excess over $379,150

2011 Married Individuals Filing Joint Returns and Surviving Spouses

If Taxable Income Is: The Tax Is:
Not over $17,000 10% of the taxable income
Over $17,000 but not over $69,000 $1,700.00 plus 15% of the excess over $17,000
Over $69,000 but not over $139,350 $9,500 plus 25% of the excess over $69,000
Over $139,350 but not over $212,300 $27,087.50 plus 28% of the excess over $139,350
Over $212,300 but not over $379,150 $47,513.50 plus 33% of the excess over $212,300
Over $379,150   $102,574 plus 35% of the excess over $379,150

2011 Married Individuals Filing Separate Returns

If Taxable Income Is: The Tax Is:
Not over $8,375 10% of the taxable income
Over $8,500 but not over $34,500 $850.00 plus 15% of the excess over $8,500
Over $34,500 but not over $69,675 $4,750.00 plus 25% of the excess over $34,500
Over $69,675 but not over $106,150 $13,543.75 plus 28% of the excess over $69,675
Over $106,150 but not over $189,575 $23,756.75 plus 33% of the excess over $106,150
Over $189,575   $51,287.00 plus 35% of the excess over $189,575

2011 Heads of Households

If Taxable Income Is: The Tax Is:
Not over $12,150 10% of the taxable income
Over $12,150 but not over $46,250 $1,215.00 plus 15% of the excess over $12,150
Over $46,250 but not over $119,400 $6,330.00 plus 25% of the excess over $46,250
Over $119,400 but not over $193,350 $24,617.50 plus 28% of the excess over $119,400
Over $193,350 but not over $379,150 $45,323.50 plus 33% of the excess over $193,350
Over $379,150   $106,637.50 plus 35% of the excess over $379,150

 

Standard Deductions/Personal Exemptions

Standard Deduction Tables

  2010 2011
Married Filing Jointly and Surviving Spouses $11,400 $11,600
Heads of Households $8,400 $8,500
Single $5,700 $5,800
Married Filing Separate $5,700 $5,800
Additional Amount for Aged and Blind, Married and Surviving Spouses $1,100 for each $1,150 for each
Additional Amount for Aged and Blind, Singles and Heads of Household $1,400 for each $1,450 for each

Personal Exemptions and Phaseout Amounts

  2010 2011
Personal Exemption Amount $3,650 $3,700
Before January 1, 2010, 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% for each $2,500 increment (or portion thereof) of adjusted gross income in excess of a threshold phaseout amount adjusted for inflation.

The personal exemption phaseout is repealed for 2010. The repeal is extended until 2012.

 

Capital Gains and Dividends Taxed as Net Capital Gain

Capital Gains

  2005-12  
Rate for Non-corporate Taxpayers
above 15% income tax bracket
15%  
  2005-07 2008-12
Rate for Non-corporate Taxpayers
in 10% or 15% tax bracket
5% 0%

Qualified Dividends Taxed as Net Capital Gain

  2005-12   2013
Rate for Non-corporate Taxpayers
above 15% income tax bracket
15%   *
  2005-07 2008-12 2013
Rate for Non-corporate Taxpayers
in 10% of 15% tax bracket
5% 0% *

* After 2013, dividends will be taxed as ordinary income.

 

AMT Tax Brackets

Married Filing JointlySingle or Head of HouseholdAMT IncomeQD & LTCG*
$0 - $74,450$0 - $48,4500%0%/15%
$74,451 - $150,000$48,451 - $112,50026%15%
$150,001 - $229,960$112,501 - $201,46032.5%21.5%
$229,961 - $447,800$201,461 - $306,30035%22%
$447,801 or more$302,301 or more28%15%

* Qualified Dividends and Long Term Capital Gains
The ranges in red have been a phaseout bands.

AMT Exemptions Amounts for 2011:
$48,450 for single and head of household filers,
$74,450 for married people filing jointly and for qualifying widows or widowers, and
$37,225 for married people filing separately.

AMT Tax Rates:
The exemption amounts mean that this amount of AMT taxable income is not subject to the AMT. Income over these amounts may be subject to AMT. Unlike the ordinary tax rates, the AMT has only two tax brackets. The AMT tax rate is assessed only on AMT income over the exemption amount. The AMT tax rates are:
26% on the first $175,000 of AMT taxable income, and
28% on the remainder of AMT taxable income

 

Tax Rate Schedules for Estates and Trusts

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

2011

If Taxable Income Is: The Tax Is:
Not over $2,300 15% of the taxable income
Over $2,300 but not over $5,450 $345.00 plus 25% of the excess over $2,300
Over $5,450 but not over $8,300 $1,132.50 plus 28% of the excess over $5,450
Over $8,300 but not over $11,350 $1,930.50 plus 33% of the excess over $8,300
Over $11,350   $2,937.00 plus 35% of the excess over $11,350

 

Applicable Exclusion Amount for Estate Tax

Year of Transfer Applicable Exclusion Amount
2006/2007/2008 $2,000,000
2009 $3,500,000
2010 Repealed
2011-2012$5,000,000

 

Lifetime Exclusion Amount for Gift Tax

Year of Transfer Applicable Exclusion Amount
2002-2010 $1,000,000
2011-2012$5,000,000

 

Gift Tax Annual Exclusion

Year of Transfer Applicable Exclusion Amount
2002-2005 $11,000
2006-2008 $12,000
2009-2011 $13,000

Note: A significant higher applicable exclusion amount and lower estate and gift tax rates are temporary and scheduled to sunset on December 31, 2012.

 

Estate and Gift Tax Rates for Decedents Dying in 2010/2011

Taxable Amount OverTaxable Amount Not OverTax on Amount in 1st ColumnRate of Tax on Excess Over Amount in 1st Column
   2010*/2011
$0$10,000$018%
$10,000$20,000$1,80020%
$20,000$40,000$3,80022%
$40,000$60,000$8,20024%
$60,000$80,000$13,00026%
$80,000$100,000$18,20028%
$100,000$150,000$23,80030%
$150,000$250,000$38,80032%
$250,000$500,000$70,80034%
$500,000 $155,80035%

*In 2010, the estate tax is repealed, but a taxpayer can make an election to apply the estate tax based on the new 35% and $5 million exclusion

In 2010, the top gift tax rate is reducted to 35% with an applicable exclusion amount of $1 million.

In 2011, the top estate and gift tax is 35% with an applicable exclusion amount of $5 million.

Note that gifts and states are not taxed in the lower brackets because of the use of the "applicable exclusion amount".

 

ERISA and Tax Code Pension and Retirement Plan Limits

  2010 2011
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

See Additional Information:
Tax Rate Guide for 2010/2011
2010 Filing Requirements
2010 Tax Deductions and Exemptions
2010 Earned Income Credit
2010 Dependent Care, Education and Child Credits
2010 Miscellaneous Limitations
2010 MACRS Recovery Periods
2010 Financial Planning Limits

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