The indexing factor for federal tax credits and brackets for 2024 is 4.7%. The following federal tax rates and brackets will be in effect for individuals for the 2024 tax year.
Income level Federal tax rate
$15,705 - $55,867 15.0%
$55,868 - $111,733 20.5%
$111,734 - $173,205 26.0%
$173,206 - $246,752 29.0%
Over $246,752 33.0%