Tax Tools : Tax Rate Guide for 2008/2009

Federal

Standard Mileage Rates
Corporate Tax Rate Schedule
Individual Tax Rate Schedules
Standard Deductions/Personal Exemptions
Capital Gains and Dividends Taxed as Net Capital Gain
ERISA and Tax Code Pension and Retirement Plan Limits

State

2009 California Tax Rates and Exemptions
2009 California Requirement to File

Not over $8,350

10% of the taxable income

Over $8,350

but not over $33,950

$835.00 plus

15% of the excess over $8,350

Over $33,950

but not over $82,250

$4,675.00 plus

25% of the excess over $33,950

Over $82,250

but not over $171,550

$16,750.00 plus

28% of the excess over $82,250

Over $171,550

but not over $372,950

$41,754.00 plus

33% of the excess over $171,550

Over $372,950

$108,216.00 plus

35% of the excess over $372,950

If Taxable Income Is:

The Tax Is:

Not over $16,700

10% of the taxable income

Over $16,700

but not over $67,900

$1,670.00 plus

15% of the excess over $16,700

Over $67,900

but not over $137,050

$9,350.00 plus

25% of the excess over $67,900

Over $137,050

but not over $208,850

$26,637.50 plus

28% of the excess over $137,050

Over $208,850

but not over $372,950

$46,741.50 plus

33% of the excess over $208,850

Over $372,950

$100,894.50 plus

35% of the excess over $372,950

If Taxable Income Is:

The Tax Is:

Not over $8,350

10% of the taxable income

Over $8,350

but not over $33,950

$835.00 plus

15% of the excess over $8,350

Over $33,950

but not over $68,525

$4,675.00 plus

25% of the excess over $33,950

Over $68,525

but not over $104,425

$13,318.75 plus

28% of the excess over $68,525

Over $104,425

but not over $186,475

$23,370.75 plus

33% of the excess over $104,425

Over $186,475

$50,447.25 plus

35% of the excess over $186,475

If Taxable Income Is:

The Tax Is:

Not over $11,950

10% of the taxable income

Over $11,950

but not over $45,500

$1,195.00 plus

15% of the excess over $11,950

Over $45,500

but not over $117,450

$6,227.50 plus

25% of the excess over $45,500

Over $117,450

but not over $190,200

$24,215.00 plus

28% of the excess over $117,450

Over $190,200

but not over $372,950

$44,585.00 plus

33% of the excess over $190,200

Over $372,950

$104,892.50 plus

35% of the excess over $372,950

If Taxable Income Is:

The Tax Is:

Not over $8,025

10% of the taxable income

Over $8,026

but not over $32,550

$802.50 plus

15% of the excess over $8,025

Over $32,551

but not over $78,850

$4,481.25 plus

25% of the excess over $32,550

Over $78,851

but not over $164,550

$16,056.25 plus

28% of the excess over $78,850

Over $164,551

but not over $357,700

$40,052.25 plus

33% of the excess over $164,550

Over $357,701

$103,791.75 plus

35% of the excess over $357,700

If Taxable Income Is:

The Tax Is:

Not over $16,051

10% of the taxable income

Over $16,051

but not over $65,100

$1,605.00 plus

15% of the excess over $16,050

Over $65,101

but not over $131,450

$8,962.50 plus

25% of the excess over $65,100

Over $131,451

but not over $200,300

$25,550.00 plus

28% of the excess over $131,450

Over $200,301

but not over $357,700

$44,828.00 plus

35% of the excess over $200,300

Over $357,701

$96,770.00 plus

35% of the excess over $357,700

If Taxable Income Is:

The Tax Is:

Not over $8,025

10% of the taxable income

Over $8,025

but not over $32,550

$802.50 plus

15% of the excess over $8,025

Over $32,551

but not over $65,725

$4,481.25 plus

25% of the excess over $32,550

Over $65,726

but not over $100,150

$12,775.00 plus

28% of the excess over $65,725

Over $100,151

but not over $178,850

$22,414.00 plus

33% of the excess over $100,150

Over $178,851

$48,385.00 plus

35% of the excess over $178,850

If Taxable Income Is:

The Tax Is:

Not over $11,450

10% of the taxable income

Over $11,451

but not over $43,650

$1,145.00 plus

15% of the excess over $11,450

Over $43,651

but not over $112,650

$5,975.00 plus

25% of the excess over $43,650

Over $112,651

but not over $182,400

$23,225.00 plus

28% of the excess over $112,650

Over $182,401

but not over $357,700

$42,755.00 plus

33% of the excess over $182,400

Over $357,701

$100,605.00 plus

35% of the excess over $357,700

2008

2009

Married Filing Jointly and Surviving Spouses

$10,900

$11,400

Heads of Households

$8,000

$8,350

Single

$5,450

$5,700

Married Filing Separate

$5,450

$5,700

Additional amount for Aged and Blind

$1,050 for each

$1,100 for each

Additional amount for Aged and Blind
if unmarried and not a surviving spouse

$1,350 for each

$1,400 for each

2008

2009

Personal Exemption Amount

$3,500

$3,650

Code section 151(d)(3) phaseout of the tax benefit of the personal exemptions is calculated by reducing the total amount of the personal exemptions by 2 percent for each $2,500 increment (or portion thereof) of adjusted gross income in excess of a threshold phaseout amount adjusted for inflation. These amounts are as follows:

Tax years beginning in
2008

Tax years beginning in
2009

Type of Taxpayer

Phaseout
Begins:

Maximum Phaseout:

Phaseout
Begins:

Maximum Phaseout:

Married and Individuals Filing Joint Returns
And Surviving Spouses
Code Section 1(a)

$239,950

$362,450

$250,200

$372,700

Heads of Households
Code Section 1(b)

$199,950

$322,450

$208,500

$331,000

Unmarried Individuals
(Other Than Surviving Spouses and Heads of Households)
Code Section 1(c)

$159,950

$282,450

$166,800

$289,300

Married Individuals Filing Separate Returns
Code Section 1(d)

$119,975

$181,225

$125,100

$183,650

2005-10

2011

Rate for Non-corporate Taxpayers
above 15% income tax bracket

15%

20%

2005-07

2008-10

2011

Rate for Non-corporate Taxpayers
in 10% or 15% tax bracket

5%

0%

10%

2005-10

2009

Rate for Non-corporate Taxpayers
above 15% income tax bracket

15%

*

2005-07

2008-10

2011

Rate for Non-corporate Taxpayers
in 10% of 15% tax bracket

5%

0%

*

If Taxable Income Is:

The Tax Is:

Not over $2,200

15% of the taxable income

Over $2,200

but not over $5,150

$330.00 plus

25% of the excess over $2,200

Over $5,150

but not over $7,850

$1,067.50 plus

28% of the excess over $5,150

Over $7,850

but not over $10,700

$1,823.50 plus

33% of the excess over $7,850

Over $10,700

$2,764.00 plus

35% of the excess over $10,700

Year of Transfer

Applicable Exclusion Amount

2006/2007/2008

$2,000,000

2009

$3,500,000

Year of Transfer

Applicable Exclusion Amount

2002-2009

$1,000,000

Year of Transfer

Applicable Exclusion Amount

2002-2005

$11,000

2006-2008

$12,000

2009

$13,000

2008

2009

Deferral Limits for Plans

   401(k)

15,500

16,500

   SIMPLE

10,500

11,500

   403(b)

15,500

16,500

   457

15,500

16,500

Catch-Up Contributions for Participants Age 50 or Older

   401(k) Plans

5,000

5,500

   SIMPLE

2,500

2,500

Qualified Plans - Annual Compensation Limit

230,000

245,000

Defined Benefit Maximum Annual Benefit

185,000

195,000

Defined Contribution - Maximum Annual Addition

46,000

49,000

"Key Employee" in Top-Heavy Plan

150,000

160,000

To Determine Maximum Account Balance in ESOP
Subject to 5-Year Distribution Period

935,000

985,000

"Highly Compensated Employee" Threshold

105,000

110,000

SEP Compensation Threshold for Participation

500

550

Definition of "Control Employee" for Fringe Benefit Valuation

   Regs. 1.61-21(f)(5)(i)

90,000

95,000

   Regs. 1.61-21(f)(5)(iii)

185,000

195,000

Social Security Wage Base

102,000

106,800