South Dakota Tax Update - 2013 Federal Income Tax Rates

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%