Income Tax Rates Puerto Rico

In the long term the puerto rico personal income tax rate is projected to trend around 33 00 percent in 2021 according to our econometric models.

Income tax rates puerto rico. Estimate your income taxes for regular income with the puerto rico income tax rates table. Income from personal services performed within puerto rico will not be considered from puerto rican sources if it is usd 3 000 or less and the individual was present in puerto rico for 90 days or less during the calendar year. Rates were updated in 2015 and remain in effect. Puerto rico collects a state income tax at a maximum marginal tax rate of spread across tax brackets.

Notably puerto rico has the highest maximum marginal tax bracket in the united states. Personal income tax rate in puerto rico is expected to reach 33 00 percent by the end of 2020 according to trading economics global macro models and analysts expectations. You only need to earn 60 000 to land yourself in the highest earning category which is subject to a tax rate of 33. Unlike the federal income tax puerto rico s state income tax does not provide couples filing jointly with expanded income tax brackets.

Puerto rico income tax rate puerto rico s tax table is fairly simple but the important thing to note is that the threshold for high earners is much lower than in the us.