What is my tax bracket?

In Arizona, your tax bracket depends on how much money you made during the year. The state tax code uses a graduated tax system based on your income. Generally, the more money you make, the more you pay in taxes. In 2020, the Arizona tax brackets range from as low as 2.59% to 4.50%. If you are single, the tax brackets break down as follows: - Up to $10,362: 2.59% - Over $10,362 to $25,862: 2.87% - Over $25,862 to $50,325: 3.36% - Over $50,325 to $150,000: 4.24% - Over $150,000: 4.50% If you are married filing jointly, the tax brackets break down as follows: - Up to $20,724: 2.59% - Over $20,724 to $51,724: 2.87% - Over $51,724 to $100,650: 3.36% - Over $100,650 to $300,000: 4.24% - Over $300,000: 4.50% To determine your exact tax bracket, you must take into account any additional deductions or credits that you may be eligible for. Additionally, Arizona has special rules for high-income earners that could also affect your tax bracket. The best way to determine your exact tax bracket is to speak to a tax professional or use an online tax calculator to help you determine the amount you owe. Knowing your tax bracket is important because it helps you plan your finances accordingly and ensure that you are paying the correct amount of taxes.

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