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 Tax Tables Department of Finance and Administration 2021

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what is a tax bracket so a tax bracket all it is is the portion of your income that is applied to a specific rate of tax so let's keep numbers simple in the united states let's say you made forty thousand dollars and in the united states we have a progressive tax rate so you pay more taxes as you make more money so the first ten thousand dollars of your forty thousand dollars might be taxed at five percent but then the next thirty thousand dollars to get to your forty thousand is taxed at twenty percent right so each portion of your income is taxed at a specific tax rate or tax bracket

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