How new tax increases will affect your paycheck - WNEM TV 5

How new tax increases will affect your paycheck

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WASHINGTON (AP) -

Here is a look at what the tax increases will mean annually for the following income brackets:

Annual income: $20,000 to $30,000

Average tax increase: $297

Annual income: $30,000 to $40,000

Average tax increase: $445

Annual income: $40,000 to $50,000

Average tax increase: $579

Annual income: $50,000 to $75,000

Average tax increase: $822

Annual income: $75,000 to $100,000

Average tax increase: $1,206

Annual income: $100,000 to $200,000

Average tax increase: $1,784

Annual income: $200,000 to $500,000

Average tax increase: $2,711

Annual income: $500,000 to $1 million

Average tax increase: $14,812

Annual income: More than $1 million

Average tax increase: $170,341

Source: Tax Policy Center via Detroit Free Press.

Copyright 2013 Associated Press.  All rights reserved.

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