Your state might have different brackets or a different system altogether. Colorado, for example, has a flat tax rate of 4.4% on taxable income, and some states, such as Wyoming, don't have a ...

To determine the tax someone owes, the government uses a system of brackets, where different chunks of a person's earnings are taxed at rates that gradually increase as the total amount of income ...

And there are two different ways to impose them: flat tax rates and graduated tax rates. The states with the highest income tax rates all have graduated tax rates: California (13.3% top marginal ...

Marginal tax rates are the percentage of tax applied to each extra dollar of income as a taxpayer moves through different tax brackets. In other words, it represents the percentage taken from your ...

Your effective tax rate is different from your tax bracket. It’s the percentage of your taxable income you pay in taxes. To calculate your effective tax rate, find your total tax on your income ...

10'000 Hours / Getty Images Income taxes and capital gains taxes are both ways the government collects revenue, but they apply to very different ... income rates based on tax brackets.

The rate at which these gains are taxed depends on your taxable income and how long you've held the asset. But keep in mind that capital gains tax rates are generally lower than the tax rates for ...