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Latest revision as of 07:42, 11 September 2026
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The Tax Reform Act of 1986 reduced really rate to 28%, at the same time raising the bottom rate from 11% to 15% (in fact 15% and 28% became single two tax brackets). Marginal tax rate is the rate of tax would you on your last (or highest) number of income. In the last described example, the individual is being taxed with a marginal tax rate of 25% with taxable income of $45,000. And also mean the affected individual is paying 25% federal tax on her last dollars of income (more than $33,950).
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