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What was the personal exemption in 2016?

In 2016, the personal exemption was $4,050. Thus, a married couple with three children received a maximum exemption of $20,250, or $4,050 for each of the five family members. However, the exemptions phase out for wealthier filers.

What was the tax allowance for 2015 16?

2. Income tax allowances 2014-152015-16£ a yearPersonal Allowancethose born after 5 April 194810,00010,600those born between 6 April 1938 and 5 April 194810,50010,6008 more rows • 3 Dec 2014

What is the Oklahoma tax rate for 2022?

Oklahoma state income tax rate table for the 2022 - 2023 filing season has six income tax brackets with OK tax rates of 0.25%, 0.75%, 1.75%, 2.75%, 3.75% and 4.75% for Single, Married Filing Jointly, Married Filing Separately, and Head of Household statuses.

What was the standard deduction for tax year 2016?

Standard Deduction and Personal Exemption Filing StatusDeduction AmountSingle$6,300.00Married Filing Jointly$12,600.00Head of Household$9,300.00Personal Exemption$4,050.001 more row • Oct 14, 2015

What are the tax brackets in Oklahoma 2021?

Tax rate of 1.75% on taxable income between $5,001 and $7,500. Tax rate of 2.75% on taxable income between $7,501 and $9,800. Tax rate of 3.75% on taxable income between $9,801 and $12,200. Tax rate of 4.75% on taxable income over $12,200.

2016 oklahoma income tax bracket

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What are the tax brackets in Oklahoma?

Income Tax Brackets Single FilersOklahoma Taxable IncomeRate$3,750 - $4,9003.00%$4,900 - $7,2004.00%$7,200+5.00%3 more rows

What is the federal income tax rate in Oklahoma?

Your Income Taxes Breakdown TaxMarginal Tax Rate2021 Taxes*Federal22.00%$9,600FICA7.65%$5,777State5.97%$3,795Local3.88%$2,4924 more rows • 1 Jan 2021

What was the personal tax rate in 2015?

IRS Releases the 2015 Tax Brackets RateSingle FilersMarried Joint Filers10%$0 to $9,225$0 to $18,45015%$9,225 to $37,450$18,450 to $74,90025%$37,450 to $90,750$74,900 to $151,20028%$90,750 to $189,300$151,200 to $230,4503 more rows • Nov 3, 2014

How is taxable income calculated 2016?

Your total taxable income is your AGI minus your itemized or standard deduction, and your deduction for exemptions.

What is Oklahoma income tax rate 2022?

Oklahoma's new top income tax rate for 2022 will be 4.75 percent.

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