2003 inflation adjustments.

2003 Inflation adjustments

2003 Income tax rates

Rate (%)  MFJ                Single             HOH

10        0-$12,000          0-$6,000           0-$10,000
15        $12,000-$47,450    $6,000-$28,400     $10,000-$38,050
27        $47,450-$114,650   $28,400-$68,800    $38,050-$98,250
30        $114,650-$174,700  $68,800-$143,500   $98,250-$159,100
35        $174,700-$311,950  $143,500-$311,950  $159,100-$311,950
38.6      Over $311,950      Over $311,950      Over $311,950

Rate (%)  MFS                Estates/Trusts

10        0-$6,000           N/A
15        $6,000-$23,725     0-$1,900
27        $23,725-$57,325    $1,900-$4,500
30        $57,325-$87,350    $4,500-$6,850
35        $87,350-$155,975   $6,850-$9,350
38.6      Over $155,975      Over $9,350

2003 Standard deduction

Filing status                   Amount

Single                          $4,750
MFJ or qualifying spouse        $7,950
 with dependent child
MFS                             $3,975
HOH                             $7,000

2003 Personal exemption phaseouts

Filing status             Phaseout threshold  No exemption if
                                                AGI exceeds

Single                        $139,500           $262,000
MFJ or qualifying spouse
 with dependent child          209,250           $331,750
MFS                            104,625           $165,875
HOH                           $174,400           $296,900

Source: Rev. Proc. 2002-70