Corporate tax rates
| Entity type | Tax rate |
|---|
| Corporations other than banks and financials | 8.84% | | Banks and financials | 10.84% | | Alternative Minimum Tax (AMT) rate | 6.65% | | S corporation rate | 1.5% | | S corporation bank and financial rate | 3.5% |
Individual tax rates- The maximum rate for individuals is 12.3%
- The AMT rate for individuals is 7%
- The Mental Health Services Tax Rate is 1% for taxable income in excess of $1,000,000.
Exemption credits
| Filing Status/Qualification | Exemption amount |
|---|
| Married/Registered Domestic Partner (RDP) filing jointly or qualifying widow(er) | $244 | | Single, married/RDP filing separately, or head of household | $122 | | Dependent | $378 | | Blind | $122 | | Age 65 or older | $122 |
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2019 Tax Rates Table
Schedule X
Use if your filing status is Single or Married/RDP Filing Separately | If the amount on Form 540, line 19 is |
|---|
| Over - | But not over - | Enter on Form 540, line 31 |
|---|
| $0 | $8,809 | $0.00 + 1.00% of the amount over $0 | | 8,809 | 20,883 | 88.09 + 2.00% of the amount over 8,809 | | 20,883 | 32,960 | 329.57 + 4.00% of the amount over 20,883 | | 32,960 | 45,753 | 812.65 + 6.00% of the amount over 32,960 | | 45,753 | 57,824 | 1,580.23 + 8.00% of the amount over 45,753 | | 57,824 | 295,373 | 2,545.91 + 9.30% of the amount over 57,824 | | 295,373 | 354,445 | 24,637.97 + 10.30% of the amount over 295,373 | | 354,445 | 590,742 | 30,722.39 + 11.30% of the amount over 354,445 | | 590,742 | AND OVER | 57,423.95 + 12.30% of the amount over 590,742 |
Schedule Y
Use if your filing status is Married/RDP Filing Jointly or Qualifying Widow(er) | If the amount on Form 540, line 19 is |
|---|
| Over - | But not over - | Enter on Form 540, line 31 |
|---|
| $0 | 17,618 | $0.00 + 1.00% of the amount over $0 | | 17,618 | 41,766 | 176.18 + 2.00% of the amount over 17,618 | | 41,766 | 65,920 | 659.14 + 4.00% of the amount over 41,766 | | 65,920 | 91,506 | 1,625.30 + 6.00% of the amount over 65,920 | | 91,506 | 115,648 | 3,160.46 + 8.00% of the amount over 91,506 | | 115,648 | 590,746 | 5,091.82 + 9.30% of the amount over 115,648 | | 590,746 | 708,890 | 49,275.93 + 10.30% of the amount over 590,746 | | 708,890 | 1,181,484 | 61,444.76 + 11.30% of the amount over 708,890 | | 1,181,484 | AND OVER | 114,847.88 + 12.30% of the amount over 1,181,484 |
Schedule Z
Use if your filing status is Head of Household
If the amount on Form 540, line 19 is |
|---|
| Over - | But not over - | Enter on Form 540, line 31 |
|---|
| $0 | 17,629 | $0.00 + 1.00% of the amount over $0 | | 17,629 | 41,768 | 176.29 + 2.00% of the amount over 17,629 | | 41,768 | 53,843 | 659.07 + 4.00% of the amount over 41,768 | | 53,843 | 66,636 | 1,142.07 + 6.00% of the amount over 53,843 | | 66,636 | 78,710 | 1,909.65 + 8.00% of the amount over 66,636 | | 78,710 | 401,705 | 2,875.57 + 9.30% of the amount over 78,710 | | 401,705 | 482,047 | 32,914.11 + 10.30% of the amount over 401,705 | | 482,047 | 803,410 | 41,189.34 + 11.30% of the amount over 482,047 | | 803,410 | AND OVER | 77,503.36 + 12.30% of the amount over 803,410
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