2023 Federal Tax Rates

2023 Federal Tax Rates

Tax Rate	Single Filers	Married Filing Jointly	Married Filing Separately	Head of Household
10%	Up to $11,000	Up to $22,000	Up to $11,000	Up to $15,700
12%	$11,001 - 44,725	$22,001 - 89,450	$11,001 - 44,725	$15,701 - 59,850
22%	$44,726 - 95,375	$89,451 - 190,750	$44,726- 95,375	$59,851 - 95,350
24%	$95,376 - 182,100	$190,751 - 364,200	$95,375 - 182,100	$95,351 - 182,100
32%	$182,101 - 231,250	$364,201 - 462,500	$182,101 - 231,250	$182,101 - 231,250
35%	$231,251 - 578,125	$462,501 - 693,750	$231,251 - 346,875	$231,251 - 346,875
37%	$539,901 or more	$647,851 or more	$323,926 or more	$539,901 or more

2022 & 2023 Estate Tax Exemption Rate

Year of Death	Estate Tax Exemption	Maximum Rate on Estate Greater Than Exemption
2022	$12,060,000	40%
2023	$12,920,000	40%

2023 Annual Gift Tax Exclusion

Year Gift Made	Excluded Amount From Tax
2023	$17,000

2022 - 2023 Generation-Skipping Transfer Tax Exemption

Year of Transfer	Excluded Amount From Tax
2022	$12,060,000
2023	$12,920,000

Annual Exclusion for Non-Resident Aliens in 2023

Type of Gift	Exemption
Annual exclusion Gifts to Person Other Than Spouse	$17,000
Annual Gifts to Citizen Spouse	Unlimited
Annual Gifts to Non-Citizen Spouse	$175,000

Long-Term Capital Gains Rate

Tax Bracket*	Maximum Tax Rate**
22% - 35%	15%
35% - 37%	20%

* Tax bracket is used for general guidance, but your specific income level will determine the maximum long-term capital gains rate.

** A 3.8% Medicare Surtax may apply to certain income thresholds with net investment income.