West Jordan Utah Form 1120 (Schedule G) 2011-2025

West Jordan Utah Form 1120 (Schedule G): What You Should Know

An income taxpayer with taxable income under an adjusted gross income of 2,000 in 1942 would pay a combined federal/state income tax of 2.75 percent for the year; if the same taxpayer had income of 7,000 in 1942, he or she would pay a combined federal/state income tax of 5.75 percent. Tax laws also changed when it came to personal exemptions and charitable deduction. 1955: Federal tax law was amended to change the effective tax bracket. An income taxpayer with taxable income under an adjusted gross income of 2,000 in 1955 would pay a combined federal/state income tax rate of 15 percent; if the same taxpayer had income of 7,000 in 1955, he or she would pay a combined federal/state tax rate of 25 percent. The 1955 tax rates were the same as those in 1942. 1954: Federal tax law was amended to change the effective tax bracket. An income taxpayer with taxable income under a combined gross income of 3,000 would pay a combined federal/state income tax rate of 12.5 percent; if the same taxpayer had taxable income of 7,000 in 1954, he or she would pay a combined federal/state income tax rate of 13.5 percent. 1955: Federal tax law was amended to change the effective tax bracket. An income taxpayer with taxable income under a combined gross income of 3,000 would pay a combined federal/state income tax rate of 12.5 percent; if the same taxpayer had taxable income of 7,000 in 1955, he or she would pay a combined federal/state income tax rate of 13.5 percent. 1954: Federal tax law was amended to change the effective tax bracket. An income taxpayer with taxable income under a combined gross income of 3,000 would pay a combined federal/state income tax rate of 12.5 percent; if the same taxpayer had taxable income of 7,000 in 1954, he or she would pay a combined federal/state income tax rate of 13.5 percent. 1955: Federal tax law was amended to change the effective tax bracket. An income taxpayer with taxable income under a combined gross income of 3,000 would pay a combined federal/state income tax rate of 12.

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