| Personal Income Tax Rates | |||||
| Last Eight Calendar Years | |||||
| (Expressed in Thousands) | |||||
|
Top Income Tax Rate is Applied
to Taxable Income in Excess of |
|||||
|---|---|---|---|---|---|
| Year | Top Rate |
Single/ Married Filing Separate |
Married Filing Jointly |
Head of Household |
Average Effective Rate |
| 2002 | 4.50% | $10,000 | $20,000 | $16,000 | 2.50% |
| 2003 | 5.00% | $10,000 | $20,000 | $16,000 | 2.48% |
| 2004 | 5.00% | $10,000 | $20,000 | $16,000 | 2.97% |
| 2005 | 5.00% | $10,000 | $20,000 | $16,000 | 3.17% |
| 2006 | 5.00% | $10,000 | $20,000 | $16,000 | 3.34% |
| 2007 | 5.00% | $10,000 | $20,000 | $16,000 | 3.46% |
| 2008 | 5.00% | $10,000 | $20,000 | $16,000 | 3.45% |
| 2009 | 5.00% | $10,000 | $20,000 | $16,000 | 2.70% |
Notes: Taxable income equal to or less than amounts listed
above is taxed at a rate of 3%.
Average effective rate equals fiscal year net tax collections divided by
prior-year total personal income.
Sources:U. S. Bureau of Economic Analysis and Department of Revenue Services