Michael H. Ranzenhofer's posts related to Income Tax

Fact Sheet: Changes to tax rates for each tax bracket

The Middle Class Tax Cut and Job Creation Plan:

• Decreases the tax rate from 6.85 percent to 6.45 percent on the following incomes:o Married – Incomes between $40,000 and $150,000o Single – Incomes between $20,000 and $75,000o Head of Household – Between $30,000 and $100,000

• Decreases the tax rate from 6.85 percent to 6.65 percent on the following incomes:o Married – Incomes between $150,000 and $300,000o Single – Incomes between $75,000 and $200,000o Head of Household – Incomes between $100,000 and $250,000

No taxpayers will see their personal income taxes go up
Overwhelming majority of taxpayers to receive a tax break
91% of taxpayers affected by the PIT surcharge to receive tax cut

To figure out your reduced tax rate as a result of the Middle Class Tax Cut and Job Creation Plan, click here.