Whole Ball of Tax 2003

2002—2003 TAX BRACKETS - Married Filing Jointly (& Surviving Spouse)

2003 Taxable Income	Tax Rate	2002 Taxable Income	Tax Rate
$0-$12,000	10%	$0-$12,000	10%
$12,000-$47,450	15%	$12,000-$46,700	15%
$47,450-$114,650	27%	$46,700-$112,850	27%
$114,650-$174,700	30%	$112,850-$171,950	30%
$174,700-$311,950	35%	$171,950-$307,050	35%
$311,950	38.6%	over $307,050	38.6%

Married Filing Separately

2003 Taxable Income	Tax Rate	2002 Taxable Income	Tax Rate
$0-$6,000	10%	$0-$6,000	10%
$6,000-$23,725	15%	$6,000-$23,350	15%
$23,725-$57,325	27%	$23,350-$56,425	27%
$57,325-$87,350	30%	$56,425-$85,975	30%
$87,350-155,975	35%	$85,975-$153,525	35%
$155,975	38.6%	over $153,525	38.6%

Single Filers

2003 Taxable Income	Tax Rate	2002 Taxable Income	Tax Rate
$0-$6,000	10%	$0-$6,000	10%
$6,000-$28,400	15%	$6,000-$27,950	15%
$28,400-$68,800	27%	$27,950-$67,700	27%
$68,800-$143,500	30%	$67,700-$141,250	30%
$143,500-311,950	35%	$141,250-$307,050	35%
$311,950	38.6%	over $307,050	38.6%

Head of Household

2003 Taxable Income	Tax Rate	2002 Taxable Income	Tax Rate
$0-$10,000	10%	$0-$10,000	10%
$10,000-$38,050	15%	$10,000-$37,450	15%
$38,050-$98,250	27%	$37,450-$96,700	27%
$98,250-$159,100	30%	$96,700-$156,600	30%
$159,100-$311,950	35%	$156,600-$307,050	35%
$311,950	38.6%	over $307,050	38.6%

Standard Deduction Amounts

Filing Status	2003	2002	Increase
Married Filing Jointly (& Surviving Spouse)	$7,950	$7,850	$100
Married Filing Separately	$3,975	$3,925	$ 50
Single	$4,750	$4,700	$ 50
Head of Household	$7,000	$6,900	$100

Standard Deduction for Dependents ("Kiddie" Standard Deduction)

2003	2002	Increase
$750	$750	$0

Income Level At Which 3-Percent Itemized
Deduction Limitation Takes Effect
(Adjusted Gross Income)

Filing Status

2003

2002

Increase

Married Filing Jointly (& Surviving Spouse)

$139,500

$137,300

$2,200

Married Filing Separately

$ 69,750

$ 68,650

$1,100

Single

$139,500

$137,300

$2,200

Head of Household

$139,500

$137,300

$2,200

Personal Exemption Amounts

2003	2002	Increase
$3,050	$3,000	$50

Threshold for Personal Exemption Phaseout

Filing Status	2003	2002	Increase
Married Filing Jointly (& Surviving Spouse)	$209,250	$206,000	$3,250
Married Filing Separately	$104,625	$103,000	$1,625
Single	$139,500	$137,300	$2,200
Head of Household	$174,400	$171,650	$2,750

Gift Tax Exemption

2003	2002	Increase
$11,000	$11,000	$0

Source: CCH INCORPORATED, 2003

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