Tax Bracket Comparison
The tax cuts enacted by this legislation were retroactive to January 1, 2003 and first applied to taxes filed for the 2003 tax year. These individual rate reductions are scheduled to sunset on January 1, 2011 along with the Economic Growth and Tax Relief Reconciliation Act of 2001 unless further legislation is enacted to extend or make permanent its changes. This comparison shows how the ordinary taxable income brackets for each filing status were changed.
Read more about this topic: Jobs And Growth Tax Relief Reconciliation Act Of 2003
Famous quotes containing the words tax and/or comparison:
“If you tax too high, the revenue will yield nothing.”
—Ralph Waldo Emerson (1803–1882)
“Away with the cant of “Measures, not men!”Mthe idle supposition that it is the harness and not the horses that draw the chariot along. No, Sir, if the comparison must be made, if the distinction must be taken, men are everything, measures comparatively nothing.”
—George Canning (1770–1827)