Rates
In the United States, ordinary income is taxed at the marginal tax rates. As of 2006, there are six "tax brackets" ranging from 10% to 35%. Ordinary income is taxed within the particular tax bracket listed on the rate schedules or tax tables as a percentage for each dollar within that bracket. However, after the 2003 Tax Cut, qualified dividends and long-term capital gains are taxed at the same rate of 15%.
Read more about this topic: Ordinary Income
Famous quotes containing the word rates:
“One of the most important findings to come out of our research is that being where you want to be is good for you. We found a very strong correlation between preferring the role you are in and well-being. The homemaker who is at home because she likes that “job,” because it meets her own desires and needs, tends to feel good about her life. The woman at work who wants to be there also rates high in well-being.”
—Grace Baruch (20th century)
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—Calvin Coolidge (1872–1933)
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—Joseph Featherstone (20th century)