USD 8,430 plus 33% of the excess over USD 61,500 USD 3,430 plus 25% of the excess over USD 41,500 USD 1,120 plus 14% of the excess over USD 25,000 The following regular tax rates remain in effect for 2018 and future years: Net taxable income (USD) Income from personal services performed within Puerto Rico will not be considered from Puerto Rican sources if it is 3,000 United States dollars (USD) or less and the individual was present in Puerto Rico for 90 days or less during the calendar year (such personal services must have been provided to an employer who is not engaged in a trade or business in Puerto Rico). Puerto Rico has a de minimis rule to avoid sourcing to Puerto Rico very small amounts of income from personal services. Such income is typically prorated to Puerto Rico based on workdays. Income for services performed is sourced to Puerto Rico based on where the services are performed. Puerto Rican non-residents are only taxed in Puerto Rico on their Puerto Rico-source income. Puerto Rican residents are taxed in Puerto Rico on their worldwide income, no matter where the income is sourced. The Indiana income tax estimator tool is provided by.These numbers are subject to change if new Indiana tax tables are released. Before the official 2024 Indiana income tax brackets are released, the brackets used on this page are an estimate based on the previous year's brackets.Indiana tax return forms are available on the Indiana tax forms page or the Indiana Department of Revenue.Please contact us if any of our Indiana tax data is incorrect or out of date. The Indiana tax brackets on this page were last updated from the Indiana Department of Revenue in 2023.States often adjust their tax brackets on a yearly basis, so make sure to check back later for Indiana's updated tax year 2024 tax brackets! The Indiana tax brackets on this page have been updated for tax year 2023, and are the latest brackets available. Is info on this page missing or out-of-date? Please let us know so we can fix it! Head over to the Federal income tax brackets page to learn about the Federal Income Tax, which applies in all states nationwide.ĭisclaimer: While we do our best to keep this list of Indiana income tax rates up to date and complete, we cannot be held liable for errors or omissions. The Federal income tax also has a standard deduction, personal exemptions, and dependant deductions, though they are different amounts than Indiana's and may have different rules. Likewise, you can take an additional dependent exemption for each qualifying dependent (like a child or family member), who you financially support. The Personal Exemption, which is supported by the Indiana income tax, is an additional deduction you can take if you (and not someone else) are primarily responsible for your own living expenses.
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The standard deduction, which Indiana does not have, is a deduction that is available by default to all taxpayers who do not instead choose to file an itemized deduction. The current values of these deductions for tax year 2023 are as follows: The three most common deductions encountered by taxpayers are the Indiana Standard Deduction, the Indiana Personal Exemption, and the Indiana Dependent Deduction.
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In addition to marginal tax brackets, one of the major features of the Indiana income tax is deductions. Remember that Indiana may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your Indiana income tax return. Qualifying deductions might include an itemized deduction, the Indiana standard deduction, exemptions for dependants, business expenses, etc. When calculating your Indiana income tax, keep in mind that the Indiana state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.įor a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website). You can use the income tax estimator to the left to calculate your approximate Indiana and Federal income tax based on the most recent tax brackets.