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Net Investment Income and Additional Medicare Tax
Effective Jan. 1, 2013, individual taxpayers are liable for a 3.8 percent Net Investment Income Tax on the lesser of their net investment income, or the amount by which their modified adjusted gross income exceeds the statutory threshold amount based on their filing status.
The Net Investment Income Tax is separate from the new Additional Medicare Tax, which also went into effect on January 1, 2013. You may be subject to both taxes, but not on the same type of income. The 0.9 percent Additional Medicare Tax applies to individuals' wages, compensation, and self-employment income over certain thresholds, but it does not apply to income items included in Net Investment Income.
For additional questions and answers click here.
2016 Mileage Rates
  • 54 cents per mile driven for business miles
  • 19 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service to a charitable organization
2015 Mileage Rates
  • 57.5 cents per mile driven for business miles
  • 23 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service to a charitable organization
2014 Mileage Rates
  • 56 cents per mile driven for business miles
  • 23.5 cents per mile driven for medical or moving purposes
  • 14 cents per mile driven in service to a charitable organization
2016 Individual Tax Information
Corporation Tax Rates
If taxable income (line 30, Form 1120) on page 1 is:
Over— But not over— Tax is: Of the amount over—
$0 $50,000 15% $0
50,000 75,000 $ 7,500 + 25% 50,000
75,000 100,000 13,750 + 34% 75,000
100,000 335,000 22,250 + 39% 100,000
335,000 10,000,000 113,900 + 34% 335,000
10,000,000 15,000,000 3,400,000 + 35% 10,000,000
15,000,000 18,333,333 5,150,000 + 38% 15,000,000
18,333,333 - - - - - 35% 0
Employer Withholding Schedules