Income Tax Questions?

Corporate Income Tax Rates for 2011

Taxable income                 Tax rate         

0  -   50,000                            15% 

50,000 - 75,000                       25%

75,000 - 100,000                     34%   

100,000 - 335,000                   39%       

335,000 - 10,000,000               34%       

10,000,000 - 15,000,000          35%  

15,000,000 - 18,333,333          38%      

18,333,333         ..........           35% 

Personal Service Corporations are subject to a flat tax of 35% regardless of their income.

Individual Income Tax Rates for 2011

Married Filing Jointly -Taxable Income Rate

$0 - $16,750--10.0%
$16,751 - $68,000--15.0%
$68,001 - $137,300--25.0%
$137,300 - $209,250--28.0%
$209,251 - $373,650--33.0%
$373,651 & Over--35.0% 

Single -Taxable Income Rate

$0 - $8,375--10.0%
$8,376 - $34,000--15.0%
$34,001 - $82,400--25.0%
$82,401 - $171,850--28.0%
$171,851 - $373,650--33.0%
$373,651 & Over--35.0% 

Head of Household-Taxable Income Rate

$0 - $11,950--10.0%
$11,951 - $45,550--15.0%
$45,551 - $117,650--25.0%
$117,651 - $190,550--28.0%
$190,551 - $373,650--33.0%
$373,651 & Over-- 35.0% 

Married Filing Separately-Taxable Income Rate

$0 - $8,375--10.0%
$8,376 - $34,000--15.0%
$34,001 - $68,650--25.0%
$68,651 - $104,625--28.0%
$104,626 - $186,825--33.0%
$186,826 & Over--35.0% 

Capital Gains Tax

They are based on the rates which would apply if they were ordinary income.

• Income that would otherwise be in the 10% or 15% brackets:  0%.
• Income that would otherwise be in the 25% or higher brackets:  15% .

Tax on Dividend Income

• Income that would otherwise be in the 10% or 15% brackets: 0%.
• Income that would otherwise be in the 25% or higher brackets:  15%.