| Personal Income Tax Rates | |||||
| Last Six Calendar Years | |||||
| (Expressed in Thousands) | |||||
| Year | Top Rate |
Single/ Married Filing Jointly |
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% |
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