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Author: krubba Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: income tax rates Date: 10/20/1999 3:43 PM
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Hi there,

I'm a canadian looking to work in the US, and I'm having a heck of a time finding tax info. I found a table for state taxes, and they all look like:
3% on first 5000
4% on 5000-10000
5% on 10000-20000
6% on 20000 and up

That's pretty straight forward, but I can't find a simple statement of federal taxes. The closest I found was this tax table (which if I read it correctly, shows exactly how much federal tax you pay for speicified income) which is incredibly useful.

http://www.irs.ustreas.gov/prod/ind_info/tax_tables/index.html

Am I reading this table correctly? I.e. does $50,000 income translate to about 10,700 federal tax (i.e. 21%)?

Is there any easy breakdown? I.e. in Canada you pay:
17% on first 30,000
26% on 30,000 to 60,000
29% on 60,000 and up

Then provincial tax is ~40%-60% of total federal tax paid.

Thanks!

krubba
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