2023-2024 Tax Brackets and Federal Income Tax Rates
Savings Corner
DECEMBER 24, 2023
These adjustments can help prevent taxpayers from ending up in a higher tax bracket as their cost of living rises, often called “bracket creep.” The tax bracket adjustments can also lower taxes for those whose compensation has not kept up with inflation. Colorado, for example, levies a flat income tax rate of 4.4%
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