What is the current federal income tax rate?

The current federal income tax rate is based on your filing status and income level. For the 2020 tax year, the federal rates for individuals range from 10% to 37%. Taxpayers who are married filing jointly or qualifying widow(er)s will pay 10% on taxable income up to $19,750. For income above that amount, the rate will be 12%, 22%, 24%, 32%, or 35%, depending on the amount of taxable income. Individuals filing as Head of Household will pay 10% on income up to $14,100 then 12%, 22%, 24%, 32%, or 35% for income above that amount. Single filers and those filing married filing separately will pay 10% on taxable income up to $9,875 then 12%, 22%, 24%, 32%, or 35% for income above that amount. In Arizona, the state income tax rate is 2.59% and applies to all taxable income. There is also a county income tax that varies by county, ranging from 0.35% to 2%.

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