Hi, I want to know the marginal tax rate of the United State, pls do help.
What is a marginal tax rate in USA?
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Marginal tax rate in USA is the tax rate you would pay on one more dollar of taxable income. This typically equates to your highest tax bracket.
For example, if you’re a single filer with $30,000 of taxable income, you would be in the 12% tax bracket. If your taxable income went up by $1, you would pay 12% on that extra dollar too.
If you had $41,000 of taxable income, however, most of it would still fall within the 12% bracket, but the last few hundred dollars would land in the 22% tax bracket. Your marginal tax rate would be 22%.