 |
|
Special CCH Coverage: 2003 Tax Legislation
|
How
The New Law Changes Tax Brackets, Rates
Married
Filing Jointly
(& Surviving
Spouse)
|
Old
Law |
New
Law |
|
2003
Taxable Income
|
Tax
Rate
|
2003
Taxable Income
|
Tax
Rate
|
|
$0-$12,000
|
10%
|
$0-$14,000
|
10%
|
|
$12,000-$47,450
|
15%
|
$14,000-$56,800
|
15%
|
|
$47,450-$114,650
|
27%
|
$56,800-$114,650
|
25%
|
|
$114,650-$174,700
|
30%
|
$114,650-$174,700
|
28%
|
|
$174,700-$311,950
|
35%
|
$174,700-$311,950
|
33%
|
|
$311,950 +
|
38.6%
|
$311,950 +
|
35%
|
Married Filing Separately
|
Old
Law
|
New
Law
|
|
2003
Taxable Income
|
Tax
Rate
|
2003
Taxable Income
|
Tax
Rate
|
|
$0-$6,000
|
10%
|
$0-$7,000
|
10%
|
|
$6,000-$23,725
|
15%
|
$7,000-$28,400
|
15%
|
|
$23,725-$57,325
|
27%
|
$28,400-$57,325 |
25%
|
|
$57,325-$87,350
|
30%
|
$57,325-$87,350
|
28%
|
|
$87,350-155,975
|
35%
|
$87,350-155,975
|
33%
|
|
$155,975 +
|
38.6%
|
$155,975 +
|
35%
|
Single
Filers
|
Old
Law
|
New
Law
|
|
2003
Taxable Income
|
Tax
Rate
|
2003
Taxable Income
|
Tax
Rate
|
|
$0-$6,000
|
10%
|
$0-$7,000
|
10%
|
|
$6,000-$28,400
|
15%
|
$7,000-$28,400
|
15%
|
|
$28,400-$68,800
|
27%
|
$28,400-$68,800
|
25%
|
|
$68,800-$143,500
|
30%
|
$68,800-$143,500
|
28%
|
|
$143,500-311,950
|
35%
|
$143,500-311,950
|
33%
|
|
$311,950 +
|
38.6%
|
$311,950 +
|
35%
|
Head of Household
|
Old
Law |
New
Law
|
|
2003
Taxable Income
|
Tax
Rate
|
2003
Taxable Income
|
Tax
Rate
|
|
$0-$10,000
|
10%
|
$0-$10,000
|
10%
|
|
$10,000-$38,050
|
15%
|
$10,000-$38,050
|
15%
|
|
$38,050-$98,250
|
27%
|
$38,050-$98,250
|
25%
|
|
$98,250-$159,100
|
30%
|
$98,250-$159,100
|
28%
|
|
$159,100-$311,950
|
35%
|
$159,100-$311,950
|
33%
|
|
$311,950 +
|
38.6%
|
$311,950 +
|
35%
|
Source: CCH INCORPORATED
|
|
|
|
|
|
