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Printable 2023 IRS 1099-MISC Louisville Kentucky: What You Should Know
Gov K-12 Taxpayers: Pay the right amount. Click HERE to get to the state income tax calculator, complete with tax rates as of August 31, 2017. For information on the state's income tax brackets, contact your state tax administrator. Individual Income Tax | Louisville KY.gov If you earn more than 1,500 in annual wages, you'll pay personal income tax of 0 percent on the first 30,400. You'll pay 1 percent once that amount rises to 30,600. The first 50,000 in wages, both paid on the employer and employee side, can count as income, and you'll pay 6 percent. This includes earnings from wages for services done by an employee or from wages earned by an employee while performing services as an independent contractor, and includes earned tips. Personal income tax rate increases with each successive tax bracket for earners on the uppermost income levels. In 2018, for example, taxpayers in the 9th (up to 10,000), 10th (through 20,000), 12th (at 18,350), 13th (at 20,450), 15th (at 24,350) and 19th (at 28,700) tax brackets pay a combined rate of 5.2 percent, up from 4.7 percent. If you earn 1,500 or more in annual wages (and are married or filing jointly), there's no limit on how high a wage can count as income, and you'll pay personal income tax on that amount; a total tax bill of 2 percent. Tax brackets are adjusted each year to keep taxable wages at an equal percentage of your pre-tax income. K-25 Taxpayers: Pay the right amount. Click HERE to get to the state income tax calculator, complete with tax rates as of August 31, 2017. For information on the state's income tax brackets, contact your state tax administrator. What do I have to do if I want to know my tax bracket? If you live in the lower tax bracket and are receiving Social Security or Railroad Retirement Annuity payments, you can request a copy of your federal tax return to determine whether you're eligible to claim the Child Tax Credit, the Earned Income Tax Credit, or the American Opportunity Credit. All you have to do is request one of these forms from your state tax administrator.
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