<P> For earnings between $75,001 and $500,000, the tax rate on every dollar of income earned is 6.37% . </P> <P> For earnings of $500,001 and over, the tax rate on every dollar of income earned is 8.97% . </P> <P> To give an example, if you file individually and your earned income is $50,000 your tax will be calculated the following way: ($20,000 (first bracket) x 1.4%) + ($15,000 (second bracket) x 1.75%) + ($5,000 (third bracket) x 3.5%) + ($10,000 (fourth bracket) x 5.525%) = $280 + $262.50 + $175 + $552.50 = $1,270, for an overall rate of 2.54% . </P> <P> Beginning in 2019, the top marginal rate will be raised to 10.75% for incomes over $5 million, making it the second highest top marginal tax rate in the nation (after California's top rate of 13.3%) </P>

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