2024 Tax Year. All tables reflect 2024 figures. Income tax brackets are adjusted annually for inflation by the IRS. The estate and gift tax unified rate schedule has remained unchanged since 2013; the applicable exclusion amount ($13,610,000 per person in 2024) and annual gift tax exclusion ($18,000 per donee in 2024) are adjusted separately for inflation. The TCJA-doubled exclusion amount is scheduled to sunset after December 31, 2025, reverting to approximately $7,000,000 (inflation-adjusted).
$13,610,000
Applicable exclusion amount per person
(federal estate & gift tax)
$27,220,000
Combined exclusion for married couples
(with portability election)
$18,000
Annual gift tax exclusion per donee
(2024; $36,000 for split gifts)
$13,610,000
Generation-skipping transfer tax (GSTT) exemption per person
Note: GSTT exemption is NOT portable
~$7,000,000
Projected exclusion after TCJA sunset
(post-December 31, 2025)
40%
Maximum federal estate, gift & GSTT rate
(on amounts above $1,000,000 taxable)
| Taxable Amount Over |
But Not Over |
Base Tax |
Rate on Excess |
Of Amount Over |
| $0 | $10,000 | $0 | 18% | $0 |
| $10,000 | $20,000 | $1,800 | 20% | $10,000 |
| $20,000 | $40,000 | $3,800 | 22% | $20,000 |
| $40,000 | $60,000 | $8,200 | 24% | $40,000 |
| $60,000 | $80,000 | $13,800 | 26% | $60,000 |
| $80,000 | $100,000 | $18,200 | 28% | $80,000 |
| $100,000 | $150,000 | $23,800 | 30% | $100,000 |
| $150,000 | $250,000 | $38,800 | 32% | $150,000 |
| $250,000 | $500,000 | $70,800 | 34% | $250,000 |
| $500,000 | $750,000 | $155,800 | 37% | $500,000 |
| $750,000 | $1,000,000 | $248,300 | 39% | $750,000 |
| $1,000,000 | And over | $345,800 | 40% | $1,000,000 |
The unified credit offsets the tentative tax on the first $13,610,000 of taxable transfers (2024). In practice, the lower brackets apply only to the computation of the tentative tax before the credit is applied.
| Taxable Income Over |
But Not Over |
Base Tax |
Rate on Excess |
Of Amount Over |
| $0 | $11,600 | $0 | 10% | $0 |
| $11,600 | $47,150 | $1,160 | 12% | $11,600 |
| $47,150 | $100,525 | $5,426 | 22% | $47,150 |
| $100,525 | $191,950 | $17,168 | 24% | $100,525 |
| $191,950 | $243,725 | $39,110 | 32% | $191,950 |
| $243,725 | $609,350 | $55,678 | 35% | $243,725 |
| $609,350 | And over | $183,647 | 37% | $609,350 |
| Taxable Income Over |
But Not Over |
Base Tax |
Rate on Excess |
Of Amount Over |
| $0 | $23,200 | $0 | 10% | $0 |
| $23,200 | $94,300 | $2,320 | 12% | $23,200 |
| $94,300 | $201,050 | $10,852 | 22% | $94,300 |
| $201,050 | $383,900 | $34,337 | 24% | $201,050 |
| $383,900 | $487,450 | $78,221 | 32% | $383,900 |
| $487,450 | $731,200 | $111,357 | 35% | $487,450 |
| $731,200 | And over | $196,669 | 37% | $731,200 |
| Taxable Income Over |
But Not Over |
Tax |
Rate on Excess |
Of Amount Over |
| $0 | $3,100 | $0 | 10% | $0 |
| $3,100 | $11,150 | $310 | 24% | $3,100 |
| $11,150 | $15,200 | $2,242 | 35% | $11,150 |
| $15,200 | And over | $3,659 | 37% | $15,200 |
Note: The 2017 Tax Cuts and Jobs Act changed the kiddie tax to use trust and estate income tax rates rather than parents' rates. Trusts and estates reach the 37% bracket at just $15,200 of taxable income — far below the threshold for individual filers. This significantly limits income-shifting strategies for minors subject to the kiddie tax.
Single filers:
Up to $47,025
Married filing jointly:
Up to $94,050
Trusts & estates:
Up to $3,150
Single filers:
$47,025 – $518,900
Married filing jointly:
$94,050 – $583,750
Trusts & estates:
$3,150 – $15,450
Single filers:
Over $518,900
Married filing jointly:
Over $583,750
Trusts & estates:
Over $15,450
Short-term capital gains (assets held 12 months or less) are taxed at ordinary income tax rates. An additional 3.8% Net Investment Income Tax (NIIT) may apply to long-term gains for higher-income taxpayers. Qualified dividends are generally taxed at the same preferential rates as long-term capital gains.
| Entity |
Rate |
Notes |
| C Corporation (all income levels) |
21% |
Flat rate; replaces the prior graduated schedule (15%–35%). Enacted permanently by the TCJA. |
| S Corporation |
0% |
No entity-level tax. Income passes through to shareholders and is taxed at individual rates. |
| Partnership / LLC (pass-through) |
0% |
No entity-level tax. Income allocated to partners/members and taxed at individual rates. |
The TCJA also created a 20% deduction for qualified business income (QBI) from pass-through entities, subject to income limits and other restrictions. This deduction is currently scheduled to expire after 2025.
© 2007– Wall Street Instructors Online, LLC. All rights reserved. Tax figures are provided for educational purposes. Always verify current rates with IRS publications or a qualified tax advisor.