Rate schedule (federal income tax) than a dollar in taxable income, thus making the marginal tax rate greater than what is suggested by the table. These schedules apply only to regular US income tax, whereas there is a second income tax, the Alternative Minimum Tax, that uses a different schedule. A taxpayer's tax obligation is the higher of those two income taxes, which makes drawing conclusions from the table even more difficult. All rate schedules have an identical format, containing four columns and seven rows (called "brackets"). The first two columns indicate the range of taxable income that a taxpayer must have to qualify for
Income tax in the United States apply to items due to related parties, including interest and royalty expenses. Estates and trusts may be subject to income tax at the estate or trust level, or the beneficiaries may be subject to income tax on their share of income. Where the all income must be distributed, the beneficiaries are taxed similarly to partners in a partnership. Where income may be retained, the estate or trust is taxed. It may get a deduction for later distributions of income. Estates and trusts are allowed only those deductions related to producing income, plus $1,000. They are taxed at graduated rates that