Tax Tables & Info
Federal Income Taxes:
+ Single Persons – Income Tax Rates
+ Married Filing Jointly – Income Tax Rates
+ Corporate Income Tax Rates
+ Personal Service Corporation Income Tax Rates
+ Estates and Trusts Income Tax Rates
+ Maximum Rate on Long Term Capital Gains & Qualified Dividend Income
+ Personal and Dependency Exemptions for Individuals
+ Alternative Minimum Income Tax Rate
+ Unearned Income of Children under 14 Years of Age
+ Standard Deduction for Individuals who do not Itemize
+ Phase Out of Itemized Deductions
+Certain Payments to Nonresident Alien Individuals and Foreign Corporations
+Expatriation Amounts
Federal Transfer Taxes
+ Federal Estate and Gift Unified Tax Rates
+ Gift Tax Annual Exclusion Amounts
+ Transfer Tax Exemptions and Credits
+ Reporting of Gifts & Bequests from Abroad
Federal Misc.:
+ Social Security and Medicare Taxes
+ Standard Mileage Rates
+ Applicable Federal Rates
Florida Taxes:
+ Corporate Income Tax Rate
+ Nonrecurring Intangible Personal Property Tax on Recorded Secured Obligations
+ Sales and Use Taxes
+ Current Documentary Stamp Taxes
+ Historical Documentary Stamp Taxes
| Single Person Individual Income Tax Rates 2018 |
|
|---|---|
| Taxable Income | Tax Rate |
| $0 – 9,525 | 10% |
| $9,526 – 38,700 | 12% |
| $37,701 – 82,500 | 22% |
| $82,501 – 157,500 | 24% |
| $157,501 – 200,000 | 32% |
| $200,001 – 500,000 | 35% |
| Over $500,000 | 37% |
| Married Persons Filing Jointly Individual Income Tax Rates 2018 |
|
|---|---|
| Taxable Income | Tax Rate |
| $0 – 19,050 | 10% |
| $19,051 – 77,400 | 12% |
| $77,401 – 165,000 | 22% |
| $165,001 – 315,000 | 24% |
| $315,001 – 400,000 | 32% |
| $400,001 – 600,000 | 35% |
| Over $600,000 | 37% |
| Corporate Income Tax Rates 2018 | |
|---|---|
| Taxable Income | Tax Rate |
| $1 and higher | 21% |
| Personal Service Corporation Income Tax Rates 2018 | |
|---|---|
| Taxable Income | Tax Rate |
| [no special rates] | |
| Estates & Trusts Income Tax Rates 2018 | |
|---|---|
| Taxable Income | Tax Rate |
| $0 – $2,550 | 10% |
| $2,551 – 9,150 | 24% |
| $9,151 – 12,500 | 35% |
| Over $12,500 | 37% |
| Maximum Rates on Long Term Gains For Individuals, Estates & Trusts and on Qualified Dividend Income 2016 | |
|---|---|
| General Rules | |
| Net short-term (held 1 year or less) capital gain | Ordinary income rates |
| Long-term (more than one year) capital gain and qualified dividend income | 20% (or 5% for gain otherwise taxable at ordinary 10% or 15% rate) |
| Special Maximum Rules | |
| Unrecaptured §1250 gain on real estate depreciation | 25% |
| Collectibles gain (on works of art, rugs, antiques, etc.) | 28% |
| §1202 gain (from sale of small business stock eligible for 50% exclusion from gross income) | 28% |
| Personal and Dependency Exemptions For Individuals 2016 | |
|---|---|
| Exemptions | Amount |
| Per Exemption | $4,050 |
| The exemptions phase out for married individuals with AGI beginning at $311,300 (with a full phaseout by AGI of $433,800), and $259,400 AGI for unmarried individuals (with a full phaseout by AGI of $381,900 | |
| Alternative Minimum Income Tax Rates 2018 | |
|---|---|
| Individuals | 26% & 28% |
| Corporations | n.a. |
| Exemption amounts for joint returns or surviving spouses are $109,400, for unmarried individuals (other than surviving spouses are $70,300, for married individuals filing separate returns are $54,700, and for estates and trusts are $24,600. | |
| Unearned Income of Children Under 19 Years of Age & Dependent Students under 24 | 2016 | |
|---|---|
| Amount | Treatment |
| First $1,050 | Not taxed (standard deduction) |
| $1,051 – $3,000 | Taxed at child’s rates (modify if itemized deductions) |
| Over $3,000 | Taxed at parent’s rates |
| Standard Deduction for Individuals Who Do Not Itemize 2018 | ||
|---|---|---|
| Single | $12,000 | |
| Married, Filing Jointly | $24,000 | |
| Additional Amount if: |
Unmarried and Not Surviving Spouse | Married Filing, Jointly |
| 65 or older OR blind | $1,600 | $1,300 |
| 65 or older AND blind | $3,200 | $2,600 |
| Phase-Out of Itemized Deductions 2018 | |
|---|---|
| No longer applicable |
| Certain Payments to Nonresident Aliens 2018 |
|
|---|---|
| Generally, payments by a U.S. person of interest, dividends, and other fixed or determinable, annual or periodic, income items to a foreign person or corporation are subject to a 30% withholding tax. Important exceptions to this tax are certain bank and portfolio interest payments, payments to treaty country recipients, and payments that are related to a U.S. business of the recipient. |
| Expatriation 2018 | |
|---|---|
| Covered Expartriate | |
| An individual is a covered expatriate if the “average annual net income tax” for the five taxable years ending before the ,expatriation date is more than $161,000. | |
| Gross Income Reduction Of Income Triggered By Expatriation | |
| $711,000 |
| Federal Estate, Gift & Generation-Skipping Tax Rates 2018 | |
|---|---|
| If the amount with respect to which the tentative tax to be computed is: | The tentative tax for estate and gift taxes is: |
| Not over $10,000 | 18% of that amount |
| Over $10,000 but not over $20,000 | $1,800 + 20% of excess over $10,000 |
| Over $20,000 but not over $40,000 | $3,800 + 22% of excess over $20,000 |
| Over $40,000 but not over $60,000 | $8,200 + 24% of excess over $40,000 |
| Over $60,000 but not over $80,000 | $13,000 + 26% of excess over $60,000 |
| Over $80,000 but not over $100,000 | $18,200 + 28% of excess over $80,000 |
| Over $100,000 but not over $150,000 | $23,800 + 30% of excess over $100,000 |
| Over $150,000 but not over $250,000 | $38,800 + 32% of excess over $150,000 |
| Over 250,000 but not over $500,000 | $70,800 + 34% of excess over $250,000 |
| Over $500,000 but not over $750,000 | $155,800 + 37% of excess over $500,000 |
| Over $750,000 but not over $1,000,000 | $248,300 + 39% of excess over $500,000 |
| Over $1,000,000 | $345,800 + 40% of excess over $1,000,000 |
| n/a | n/a |
| n/a | n/a |
| n/a | n/a |
| The generation skipping tax rate is a flat 40%. | |
| Gift Tax Annual Exclusion 2016 |
|---|
| The first $14,000 of gifts to any person (other than gifts of future interests in property) are not included in the total amount of taxable gifts under § 2503 made during that year. |
| The first $148,000 of gifts to a spouse who is not a citizen of the United States (other than gifts of future interests in property) are not included in the total amount of taxable gifts under §§ 2503 and 2523(i)(2) made during that year. |
| Historical Annual Exclusion Amounts: |
| Through 2001: $10,000 |
| 2002 – 2005: $11,000 |
| 2006 – 2008: $12,000 |
| 2009 – 2012: $13,000 |
| 2013 – 2016: $14,000 |
| Transfer Tax Exemptions and Credits 2016 | |
|---|---|
| Basic Exclusion Amount for Determining Unified Credit Against Estate and Gift Tax | $5,450,000 (2015: 5.43M – 2014: $5.34M – 2013: 5.25M) |
| Generation Skipping Tax Exemption | $5,450,000 |
| Reporting of Gifts & Bequests from Abroad 2018 |
|---|
| For gifts from a nonresident alien individual or an inheritance from a foreign estate, reporting is required if the aggregate amount of gifts from that person exceeds $100,000 during the tax year (with no adjustments for inflation). For gifts from foreign corporations and foreign partnerships, the reporting threshold amount will be $16,076 in 2018 (annually adjusted for inflation). |
| Social Security and Medicare Taxes 2016 |
|---|
| Click Here For Diagram |
| Self-employed persons can claim an income tax deduction for one-half of their self-employment tax. |
| Standard Mileage Rates 2015 | |
|---|---|
| Type of Expense | Rate |
| Business | 57.5 cents per mile |
| Charitable | 14 cents per mile (no inflation indexing) |
| Moving/Medical | 23 cents per mile |
| Applicable Federal Rates |
|---|
| Link to TimeValue Software Table of Rates |
| Florida – Corporate Income Tax Rates |
|---|
| 5.5% of net income (3.3% alternative minimum,tax) |
| Florida – Nonrecurring Intangible Personal,Property Tax on Recorded Secured Obligations 2016 |
|---|
| $2.00 per $1,000 (2 mills) |
| Florida – Sales & Use Tax |
|---|
| 6% (except as to certain farm equipment), Additional 0.5% in Miami-Dade County and Palm Beach,County on first $5,000 on personal property sales – Varying,additional surtax in,other counties |
| Florida – Current Documentary Stamp Taxes 2018 | |
|---|---|
| Real Property Deed | $0.70 per $100 of consideration (0.60 per $100 in Miami-Dade County and other counties imposing a deed surtax). Additional Miami-Dade County surtax of $0.45 per $100 of consideration on transfers of property other than a single family residence. |
| Obligations of Indebtedness | $0.35 per $100 of face value or indebtedness amount. Maximum tax of $2,450 for debt not secured by Florida real property. |
| Original Stock Issuance | Tax repealed May 1, 2002. |
| Florida – Historical Documentary Stamp Taxes | ||||
|---|---|---|---|---|
| Year | Real Property Deed | Original Stock Issue | Stock Transfer | Obligations of Indebtedness |
| 1964 | $0.30 per $100 | $0.15 per $100 | $0.15 per $100 | $0.15 per $100 |
| 1980 | $0.40 per $100 | No Change | No Change | No Change |
| 1982 | $0.45 per $100 | No Change | No Change | No Change |
| 1986 | $0.50 per $100 | No Change | No Change | No Change |
| 1988 | $0.55 per $100 | No Change | Repealed | No Change |
| 1991 | $0.60 per $100 | $0.32 per $100 | —- | $0.32 per $100 |
| 1993 | $0.70 per $100 | $0.35 per $100 | —- | $0.35 per $100 |