Oil & Gas Investing > Tax Reference Information > U.S. Federal Personal Income Tax

2005 Tax Rate Schedules


Note: These tax rate schedules are provided so that you can compute your estimated tax for 2005. To compute your actual income tax, please see the instructions for 2005 Form 1040, 1040A, or 1040EZ as appropriate when they are available.

Schedule X — Single

If taxable income is  over--

But not over--

The tax is:

$0

$7,300

10% of the amount over $0

$7,300

$29,700

$730 plus 15% of the amount over 7,300

$29,700

$71,950

$4,090.00 plus 25% of the amount over 29,700

$71,950

$150,150

$14,652.50 plus 28% of the amount over 71,950

$150,150

$326,450

$36,548.50 plus 33% of the amount over 150,150

$326,450

no limit

$94,727.50 plus 35% of the amount over 326,450


Schedule Y-1 — Married Filing Jointly or Qualifying Widow(er)

If taxable income is over--

But not over--

The tax is:

$0

$14,600

10% of the amount over $0

$14,600

$59,400

$1,460.00 plus 15% of the amount over 14,600

$59,400

$119,950

$8,180 plus 25% of the amount over 59,400

$119,950

$182,800

$23,317.50 plus 28% of the amount over 119,950

$182,800

$326,450

$40,915.50 plus 33% of the amount over 182,800

$326,450

no limit

$88,320.00 plus 35% of the amount over 326,450


Schedule Y-2 — Married Filing Separately

If taxable income is over--

But not over--

The tax is:

$0

$7,300

10% of the amount over $0

$7,300

$29,700

$730 plus 15% of the amount over 7,300

$29,700

$59,975

$4,090 plus 25% of the amount over 29,700

$59,975

$91,400

$11,658.75 plus 28% of the amount over 59,975

$91,400

$163,225

$20,457.75 plus 33% of the amount over 91,400

$163,225

no limit

$44,160.00 plus 35% of the amount over 163,225


Schedule Z — Head of Household

If taxable income is over--

But not over--

The tax is:

$0

$10,450

10% of the amount over $0

$10,450

$39,800

$1,045 plus 15% of the amount over 10,450

$39,800

$102,800

$5,447.50 plus 25% of the amount over 39,800

$102,800

$166,450

$21,197.50 plus 28% of the amount over 102,800

$166,450

$326,450

$39,019.50 plus 33% of the amount over 166,450

$326,450

no limit

$91,819.50 plus 35% of the amount over 326,450


Ordinary taxable income for use in filing returns due April 15, 2005

Tax rate

Single filers

Married filing jointly or qualifying widow/widower

Married filing separately

Head of household

10%

Up to $7,150

Up to $14,300

Up to $7,150

Up to $10,200

15%

$7,151 - $29,050

$14,301 - $58,100

$7,151 - $29,050

$10,201 - $38,900

25%

$29,051 - $70,350

$58,101 - $117,250

$29,051 - $58,625

$38,901 - $100,500

28%

$70,351 - $146,750

$117,251 - $178,650

$58,626 - $89,325

$100,501 - $162,700

33%

$146,751- $319,100

$178,651 - $319,100

$89,326 - $159,550

$162,701 - $319,100

35%

$319,101 or more

$319,101 or more

$159,551 or more

$319,101 or more


2005 Tax Rates

Single

Tax Year:

2005

Filing Status:

Single

If your income is between...

your tax bracket is:

and

%

and

%

and

%

and

%

and

%

and

%

Married Filing Jointly

Tax Year:

2005

Filing Status:

Married filing jointly

If your income is between...

your tax bracket is:

and

%

and

%

and

%

and

%

and

%

and

%

Married Filing Separately

Tax Year:

2005

Filing Status:

Married filing sperate

If your income is between...

your tax bracket is:

and

%

and

%

and

%

and

%

and

%

and

%

Head of Household

Tax Year:

2005

Filing Status:

Head of Household

If your income is between...

your tax bracket is:

and

%

and

%

and

%

and

%

and

%

and

%


2005/2006 Tax Bracket Endpoints



2005

Filing Status

10%

15%

25%

28%

33%*

Single

$7,300

$29,700

$71,950

$150,150

$326,450

Married Filing Jointly

$14,600

$59,400

$119,950

$182,800

$326,450

Married Filing Separately

$7,300

$29,700

$59,975

$91,400

$163,225

Head of Household

$10,450

$39,800

$102,800

$166,450

$326,450

Qualifying Widow(er)

$14,600

$59,400

$119,950

$182,800

$326,450

*Income in excess of these amounts is taxed at 35%.



2006

Filing Status

10%

15%

25%

28%

33%*

Single

$7,550

$30,650

$74,200

$154,800

$336,550

Married Filing Jointly

$15,100

$61,300

$123,700

$188,450

$336,550

Married Filing Separately

$7,550

$30,650

$61,850

$94,225

$168,275

Head of Household

$10,750

$41,050

$106,000

$171,650

$336,550

Qualifying Widow(er)

$15,100

$61,300

$123,700

$188,450

$336,550

*Income in excess of these amounts is taxed at 35%.