Income Tax Rates Historically
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Historical and future rates you can view income tax rates and allowances for previous tax years.
Income tax rates historically. The taxes we pay depend on two things. In 1974 the cut was partly reversed and the top rate on earned income was raised to 83. A surcharge of 15 kept the top rate on investment income at 90. Here s a look at income tax rates and brackets over the years.
Download toprate historical xlsx 12 15 kb. In 1971 the top rate of income tax on earned income was cut to 75. Historical highest marginal personal income tax rates 1913 to 2020. Average federal tax rates for all households by comprehensive household income quintile.
By 1918 the top rate of the income tax was increased to 77 on income over 1 000 000 to finance world war i. For one the max tax rates on investment income were far lower than on wages and salaries which gave a lot of wealthy individuals some relief. Download average rate historical all pdf 15 19 kb download average rate historical all xlsx 25 11 kb. In order to finance u s.
Then the internal revenue service adjusts the income brackets each year usually in late october or early november based on inflation. The top marginal tax rate was reduced to 58 in 1922 to 25 in 1925 and finally to 24 in 1929. Tax avoidance may have also been a big problem. Download toprate historical pdf 8 91 kb.
Congress re adopted the income tax in 1913 levying a 1 tax on net personal incomes above 3 000 with a 6 surtax on incomes above 500 000. Federal individual income tax rates history 1862 2013 nominal and inflation adjusted brackets october 17 2013 to zoom in print select text or search the following document please use the grey toolbar below. Federal individual income tax rates history nominal dollars income years 1913 2013 nominal married filing jointly married filing separately single head of household marginal marginal marginal marginal tax rate over but not over tax rate over but not over tax rate over but not over tax rate over but not over. The highest income tax rate jumped from 15 percent in 1916 to 67 percent in 1917 to 77 percent in 1918.
Participation in world war one congress passed the 1916 revenue act and then the war revenue act of 1917.
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