Tax on Individuals.

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Section 40-18-5

Tax on individuals.

The tax levied and imposed by Section 40-18-2 shall be computed as follows:

(1) For a single person, head of family, or married persons filing separate returns:

a. Two percent of taxable income not in excess of five hundred dollars ($500).

b. Four percent of taxable income in excess of five hundred dollars ($500) and not in excess of three thousand dollars ($3,000).

c. Five percent of taxable income in excess of three thousand dollars ($3,000).

(2) For married persons filing a joint return:

a. Two percent of taxable income not in excess of one thousand dollars ($1,000).

b. Four percent of taxable income in excess of one thousand dollars ($1,000) and not in excess of six thousand dollars ($6,000).

c. Five percent of taxable income in excess of six thousand dollars ($6,000).

(Acts 1935, No. 194, p. 256; Code 1940, T. 51, §377; Acts 1982, No. 82-465, p. 759, §1; Acts 1982, 1st Ex. Sess., No. 82-667, p. 85, §1; Act 98-502, p. 1083, §1.)


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