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Head of household, $45,000 income, two dependents under 17, two dependents 17 or over, charitable contribution

SHARE Head of household, $45,000 income, two dependents under 17, two dependents 17 or over, charitable contribution

Income 45,000

Earnings of Lesser Earner 0

Dependents 17 or over 2

Dependents under 17 2

Standard Deduction 6,650

Personal Exemption 14,500

State Personal Exemption 10,875

Charitable Contribution 2,000

Tax Using Current Tax Law Tax Under Bush Proposal

Taxable Income: 23,850 Taxable Income 21,850

Child Tax Credit 1,000 Child Tax Credit 2,000

Total Federal Income Taxes: 2,578 Total Federal Income Taxes: 778

50% of Federal Tax 1,289 50% of Federal Tax 389

State Taxable Income 26,186 State Taxable Income 25,086

State Income Tax Due 1,591 State Income Tax Due 1,514

State Tax

w/o Bush or Utah Cuts 1,623

w/Utah Cut only 1,591

w/Bush and Utah Cuts 1,514

Federal Tax

w/o Bush 2,578

w/Bush and Utah Cuts 778

Net Income Tax

w/o Bush or Utah Cuts 4,201

w/Utah Cut only 4,169

w/Bush and Utah Cuts 2,292


© 2001 Deseret News Publishing Company

Source: D. Brock Griffiths, tax specialist with Ernst & Young