1. Single — No Kids

2001 2002
Adjusted Gross Income 50,000 50,000
Std. Deduction 4,550 4,700
Personal Exemptions 2,900 3,000
--- ---
Taxable Income $42,550 $42,300
Tax 8,320 7,767
Rate Reduction Credit/Rebate (300)
--- ---
Tax 8,020 7,767

 

2001 2002
Adjusted Gross Income 100,000 100,000
Std. Deduction 4,550 4,700
Personal Exemptions 2,900 3,000
--- ---
Taxable Income $92,550 $92,300
Tax 22,880 22,005
Rate Reduction Credit/Rebate (300)
--- ---
Tax 22,580 22,005

 

2001 2002
Adjusted Gross Income 150,000 150,000
Std. Deduction 4,550 4,700
Personal Exemptions 2,494 2,640
--- ---
Taxable Income $142,956 $142,660
Tax 38,564 37,184
Rate Reduction Credit/Rebate (300)
--- ---
Tax 38,264 37,184

 

2. Head of Household — 2 Children Qualifying for the Child Credit

2001 2002
Adjusted Gross Income 50,000 50,000
Std. Deduction 6,650 6,900
Personal Exemptions 8,700 9,000
--- ---
Taxable Income $34,650 $34,100
Tax 5,198 4,615
Rate Reduction Credit/Rebate (500)
Child Tax Credit (1,200) (1,200)
--- ---
Tax 3,498 3,415

 

2001 2002
Adjusted Gross Income 100,000 100,000
Std. Deduction 6,650 6,900
Personal Exemptions 8,700 9,000
--- ---
Taxable Income $84,650 $84,100
Tax 18,748 17,713
Rate Reduction Credit/Rebate (500)
Child Tax Credit (0) (0)
--- ---
Tax 18,248 17,713

 

2001 2002
Adjusted Gross Income 150,000 150,000
Std. Deduction 6,650 6,900
Personal Exemptions 8,700 9,000
--- ---
Taxable Income $134,650 $134,100
Tax 33,728 32,335
Rate Reduction Credit/Rebate (500)
Child Tax Credit (0) (0)
--- ---
Tax 33,228 32,335

 

3. Married Filing Jointly — 2 children qualifying for the child credit

2001 2002
Adjusted Gross Income 50,000 50,000
Std. Deduction 7,600 7,850
Personal Exemptions 11,600 12,000
--- ---
Taxable Income $30,800 $30,150
Tax 4,620 3,923
Rate Reduction Credit/Rebate (600)
Child Tax Credit (1,200) (1,200)
--- ---
Tax 2,820 2,723

 

2001 2002
Adjusted Gross Income 100,000 100,000
Std. Deduction 7,600 7,850
Personal Exemptions 11,600 12,000
--- ---
Taxable Income $80,800 $80,150
Tax 16,570 15,437
Rate Reduction Credit/Rebate (600)
Child Tax Credit (1,200) (1,200)
--- ---
Tax 14,770 14,237

 

2001 2002
Adjusted Gross Income 150,000 150,000
Std. Deduction 7,600 7,850
Personal Exemptions 11,600 12,000
--- ---
Taxable Income $130,800 $130,150
Tax 30,967 29,456
Rate Reduction Credit/Rebate (600)
Child Tax Credit (0) (0)
--- ---
Tax 30,367 29,456

 

4. Married Filing Jointly — No Children

2001 2002
Adjusted Gross Income 50,000 50,000
Std. Deduction 7,600 7,850
Personal Exemptions 5,800 6,000
--- ---
Taxable Income $36,600 $36,150
Tax 5,490 4,823
Rate Reduction Credit/Rebate (600)
  --- ---
Tax 4,890 4,823

 

2001 2002
Adjusted Gross Income 100,000 100,000
Std. Deduction 7,600 7,850
Personal Exemptions 5,800 6,000
--- ---
Taxable Income $86,600 $86,150
Tax 18,165 17,057
Rate Reduction Credit/Rebate (600)
--- ---
Tax 17,565 17,057

 

2001 2002
Adjusted Gross Income 150,000 150,000
Std. Deduction 7,600 7,850
Personal Exemptions 5,800 6,000
--- ---
Taxable Income $136,600 $136,150
Tax 32,736 31,256
Rate Reduction Credit/Rebate (600)
--- ---
Tax 32,138 31,256