With 2013 coming to a close, most South Dakotans are preparing for the holidays. However, South Dakotans are also getting their finances in order to prepare their annual federal income tax return.
On January 2, 2013 Congress passed the American Taxpayer Relief Act (ATRA). The ATRA made the six Bush-era tax brackets permanent, however the Act also added a seventh income tax bracket of 39.6% on high wage earners. If you are curious where your income falls in the federal income tax brackets, take a look at the tables below.
2013 Single Filer
Taxable Income Percent
$ 0 - 9K 10%
$ 9 - 36K 15%
$ 36 - 88K 25%
$ 88 – 183K 28%
$ 183 – 398K 33%
$ 398 – 400K 35%
$ > 400K 39.6%
2013 Joint Income Filers
Taxable Income Percent
$ 0 – 18K 10%
$ 18 – 72K 15%
$ 72 – 146K 25%
$ 146 – 223K 28%
$ 223 – 398K 33%
$ 398 – 450K 35%
$ > 450K 39.6%