U.S. Tax Rates

Stay informed with the latest federal tax rates and brackets. Our comprehensive guide helps you understand tax obligations and plan strategically for your business.

Individual Tax Brackets (2024)

10% $0 - $11,600

12% $11,601 - $47,150

22% $47,151 - $100,525

24% $100,526 - $191,750

32% $191,751 - $243,725

35% $243,726 - $609,350

37% $609,351+

Corporate Tax Rate (2024)

21%

Flat rate for all corporate income

Standard Deduction $14,600

Capital Gains (Long-term) 0%, 15%, 20%

Key Changes for 2024

• Standard deduction increased to $14,600 for single filers
• Tax brackets adjusted for inflation
• 401(k) contribution limit raised to $23,000

Individual Tax Brackets (2023)

10% $0 - $11,000

12% $11,001 - $44,725

22% $44,726 - $95,375

24% $95,376 - $182,050

32% $182,051 - $231,250

35% $231,251 - $578,125

37% $578,126+

Corporate Tax Rate (2023)

21%

Flat rate for all corporate income

Standard Deduction $13,850

Capital Gains (Long-term) 0%, 15%, 20%

Key Features for 2023

• Standard deduction was $13,850 for single filers
• 401(k) contribution limit was $22,500
• IRA contribution limit remained at $6,000

Individual Tax Brackets (2022)

10% $0 - $10,275

12% $10,276 - $41,775

22% $41,776 - $89,450

24% $89,451 - $170,050

32% $170,051 - $215,950

35% $215,951 - $539,900

37% $539,901+

Corporate Tax Rate (2022)

21%

Flat rate for all corporate income

Standard Deduction $12,950

Capital Gains (Long-term) 0%, 15%, 20%

Key Features for 2022

• Standard deduction was $12,950 for single filers
• 401(k) contribution limit was $20,500
• Child tax credit returned to $2,000 per child

Individual Tax Brackets (2021)

10% $0 - $9,950

12% $9,951 - $40,525

22% $40,526 - $86,375

24% $86,376 - $164,925

32% $164,926 - $209,425

35% $209,426 - $523,600

37% $523,601+

Corporate Tax Rate (2021)

21%

Flat rate for all corporate income

Standard Deduction $12,550

Capital Gains (Long-term) 0%, 15%, 20%

Key Features for 2021

• Enhanced child tax credit up to $3,600 per child
• 401(k) contribution limit was $19,500
• Recovery rebate credits available

Individual Tax Brackets (2020)

10% $0 - $9,875

12% $9,876 - $40,125

22% $40,126 - $85,525

24% $85,526 - $163,300

32% $163,301 - $207,350

35% $207,351 - $518,400

37% $518,401+

Corporate Tax Rate (2020)

21%

Flat rate for all corporate income

Standard Deduction $12,400

Capital Gains (Long-term) 0%, 15%, 20%

Key Features for 2020

• CARES Act provided significant tax relief measures
• 401(k) contribution limit was $19,500
• Economic Impact Payments (stimulus checks) issued

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