Personal Income Tax due on 4/15/19.

2018 Individual Income Tax Summary

1.
Deductions
2.
Filing Requirement for Single Dependents
3.
Forms 1040A and 1040EZ
4.
Dividend and Long-Term Capital Gain Rate
5.
Additional Medicare Tax
6.
Standard Mileage Rates
7.
Depreciation
8.
Home Office Deduction Simplied Method
9.
Moving Expenses Deduction
10.
Alimony Deduction
11.
Foreign earned income exclusion
12.
Foreign Accounts and Assets
13.
Domestic Production Activities Deduction
14.
Social Security Benefits
15.
Pension Limits
16.
Roth IRA Conversion & Contribution
17.
Phase out range for IRA
18.
Coverdell Education Savings Accounts
19.
529 Plan
20.
Student Loan Interest Deduction
21.
Itemized Deductions
22.
Qualified Business Income Deduction
23.
Tax on Investment Income of Child under 18
24.
Adoption Credit
25.
Credit for Elderly or Disabled
26.
Child Care Credit
27.
Child Tax Credit
28.
EIC
29.
Education Credits
30.
Retirement Savings Contribution Credit
31.
Small Employer Health Insurance Tax Credit – Form 8941
32.
Alternative Minimum Tax
33.
Health Insurance Coverage
34.
Premium Tax Credit – Form 8962
35.
Estimated Tax Safe Harbor
36.
Social Security Summary:
37.
Gift and Estate Taxes
38.
Efile Identification
39.
Form W-2 verification code
40.
2018 Tax Rate
41.
2018 NYS Tax Summary
42.
2018 Business Tax Summary
 

 
1. Deductions        
  Standard Deductions:        
 
Single

$12,000

Head of Household
$18,000
 

 
 
Married
$24,000
Married filing separately
$12,000
 
 
 
 
  Extra for >65 or Blind:      
 
Single/Head of Household
$1,600 each  
 
Married
$1,300 each  
           
  Exemptions: Repealed
Credit for other dependents: $500 non-refundable credit for dependents other than qualifying child
  << Back to Top >>      
         
2. Filing Requirement for Single Dependents  
 
  • Unearned Income only > $1,050
  • Earned Income > $12,000
  • Gross Income was more than the larger of
    • $1,050 or
    • Earn income (up to $11,650) plus $350
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3. Forms 1040A and 1040EZ is no longer available, new forms are added:  
  Form 1 - Additional Income and Adjustments to Income
Form 2 - Tax
Form 3 - Nonrefundable Credits
Form 4 - Other Taxes
Form 5 - Other Payments and Refundable Credits
Form 6 – Foreign Address and Third Party Designee
  << Back to Top >>      
         
4. Dividend and Long-Term Capital Gain Rate  
 
  S MFJ HH MFS
0% <$51,700 <$77,200 <$51,700 <$39,500
15% $51,700-425,800 $77,200 – 479,000 $51,700 – 452,000 $39,500 – 239,500
20% >$425,80 >$479,000 >$452,000 >$239,500
  • The surviving spouses have two years to sell primary home and still qualify for the $500,000 exclusion.
  • The taxpayers cannot claim the full amount of exclusion for selling their primary residence if there is non-residence use after 1/1/09. The taxable portion is allocated to the non-residence use period over total holding period of the property.
  << Back to Top >>      
     
5. Additional Medicare Tax:    
  • Form 8959 - 0.9% on the wages/self-employment income exceeding $200,000 S, $250,000 MFJ and $125,000 MFS
  • Form 8960 - 3.8% on the lesser of Net Investment Income or MAGI over $200,000 S, $250,000 MFJ and $125,000 MFS.
  << Back to Top >>      
     
6. Standard Mileage Rates    
  • Business: 54.50 cents a mile.
  • Charity: 14 cents a mile. 
  • Medical Care: 18 cents a mile.
  << Back to Top >>      
       
7. Depreciation    
  • Max. Sec 179 deduction is $510,000, the limit is reduced if the assets value exceeds $2.03M.
  << Back to Top >>    
     
8. Home Office Deduction Simplied Method    
  • $5 per square feet for the qualified business area, up to 300 square feet.
  << Back to Top >>    
     
9. Moving Expenses Deduction    
  Repealed
  << Back to Top >>    
     
10. Alimony Deduction    
 
  • For the divorce decree or separation agreement after 1/1/2018, no deduction for the payer and not an income for the payee.
  << Back to Top >>    
     
11. Foregin earned income exclusion    
 
  • Exclusion amount $104,100 max.
  • The amount of qualified housing expenses is limited to $31,170 but it will be adjusted in according to the living standard of the foreign countries.
  • The tax on the nonexcluded income will use the tax rates that would have applied without claiming the exclusion.
  << Back to Top >>      
     
12. Foreign Accounts and Assets    
 
  • Need to file the Form 114 if at any time during the year the value in foreign accounts exceed $10,000. the due date is 4/15 with extension allowed for six months.
  • All Form 114 needed to file online.
  • Need to file the Form 8938 if the total assets in foreign countries over $50,000 at the end of year or $75,000 at any time during the year for S; $100,000/$150,000 MFJ. $200,000/$300,000 S and $400,000/$600,000 MFJ if taxpayer live in overseas. Don't need to file if the taxpayer not required to file income tax return.
  • Corporations, partnership and trusts which are formed to hold directly or indirectly foreign financial assets must file Form 8938 if total assets exceeds $50,000 at the end of year or $75,000 at any time during the year.
  • Need to file the following forms for foreign company if owing more than 10%
    • Form 8865 – Income for foreign partnerships
    • Form 8992 – Income for controlled foreign corporation
  << Back to Top >>    
     
13. Domestic Production Activities Deduction    
  Repealed
  << Back to Top >>    
     
14. Social Security Benefits    
 
  • If half of social security benefit and other income is more than $25,000 S / $32,000 MFJ, part of the benefits (85% max) will be taxable.
  << Back to Top >>    
     
15. Pension Limits    
 

- IRA contribution limitation:

  • 2018 - $5,500 + $1,000 ( if Age 50 or older)
  • 2019 - $6,000 + $1,000 ( if Age 50 or older)

- Max. employee 401K contribution limit:

  • 2018 - $18,500 + $6,000 ( if Age 50 or older)
  • 2019 - $19,000 + $6,000 ( if Age 50 or older)

- Max. annual defined contribution and max. SEP contribution:

  • 2018 - $54,000 $55,000 ($56,000 – 2019)

- Simple IRA - max. pretax employee contribution:

  • 2018 - $12,500 + $3,000 ( if Age 50 or older)
  • 2019 - $13,000 + $3,000 ( if Age 50 or older)
  << Back to Top >>    
     
16. Roth IRA Conversion & Contribution : Form 8606    
 

Phase out range for Roth IRA

  • $189,000 - $199,000 ($193,000 - $203,000 in 2019) MFJ
  • $0 - $10,000 MFS – lived together
  • $120,000 - $135,000 ($122,000 - $137,000 in 2019) S, HH, MFS
  << Back to Top >>    
     
17. Phase out range for IRA    
 

Under retirement plan:

  • S/HH Income $63,000 - $73,000 ($64,000 - $74,000 in 2019)
  • MFJ Income $101,000 - $121,000 ($103,000 – $123,000 in 2019)
  • MFS Income $ 0 - $10,000

No retirement plan but Your spouse has

  • MFJ Income $189,000 - $199,000 ($193,000 - $203,000 in 2019)
  • MFS Income $ 0 - $10,000
  << Back to Top >>    
     
18. Coverdell Education Savings Accounts (Extended to 2012)
 
  • $2,000 per child per family
  • Phase-out range: $95,000 - $110,000 ($190,000 - $220,000 for joint)
  • Must be contributed before 4/15 of the following year.
  • Qualified Edu. Exp. include certain elementary and secondary school expenses.
  • Family member is expanded to include first cousins of the designated beneficiary.
  << Back to Top >>    
     
19. 529 Plan
 
  • Qualified expenses included tuition paid for elementary school, secondary public, private or religious school which is limited to $10,000 per year.
  << Back to Top >>      
       
20. Student Loan Interest Deduction, up to $2,500
 
  • Phase out range MAGI $135,000 –165,000 for MFJ.
  • MAGI $65,000 – 80,000 for single, HH, or qualifying widow.
  << Back to Top >>      
       
21. Itemized Deductions    
 
  • No Phase out
  • Medicine buy without a prescription is not deductible. The threshold for the medical expenses will be 7.5% of AGI and change to 10% starting 2019.
  • State and local taxes deduction limited to $10,000 and $5,000 for MFS.
  • For the mortgage setup after 1/1/2018, the interest deduction only allowed to the indebtedness of $750k, and no deduction for interest on home equity loan if the amount is not used in home improvement or acquisition.
  • A distribution from IRA account directly to a qualified charitable organization is nontaxable if the taxpayer is at least age 70 ½ , Max $100,000.
  • No deduction for job-related expenses and other misc. deductions that subject to 2% AGI limit.
  • No deduction for casualty loss unless it is declared as disaster relief.
  << Back to Top >>      
     
22. Qualified Business Income Deduction    
  Determination of QBI Deduction:
= (QBI X 20%) – [(QBI X 20%) - W-2 wage limitation] X Phase-In %

Qualified Business Income (QBI) – Income connected to the trade or business, not include:
  • Investment-related items of income, gain, deduction and loss
  • Any amount paid by S-Corp for reasonable compensation of a taxpayer
  • Any guaranteed payment by partnership to a taxpayer for services rendered
  • Any amount paid by partnership to a taxpayer acting other than in his capacity as a partner for services

  W-2 Wages Limitation

Threshold Amounts and Phase-in
  • $315,000 - $415,000 for MFJ,
  • $157,500 - $207,500 for all others

  Limitation is greater of
  • (1) 50% of the W2 wages, or
  • (2) 25% of the W2 wages + 2.5% of the unadjusted basis of depreciable qualified property
  • Phase-In% = (Taxable Income – Threshold Amount) / 100,000, max 100%

  Specified Service Exclusion
  • Threshold amounts: $315,000 MFJ, $157,500 others
  • Income related to the services in the fields of health, law, accounting, actuarial science, performing arts, consulting, athletics, financial services, brokerage services and investing management is excluded from QBI in percentage.
  • Applicable percentage = [1-(Taxable Income – Threshold Amount)/100,000]

  Combined QBI Deduction Amount
= (Total of QBI Deduction Amount from all activities – 20% NOL C/F + 20% (REIT Div and PTP Income)

  Determination of Taxpayer's Deduction:
Sum of:
  • (1) Lesser of (A) Combined QBI Deduction or (B) 20% [Taxable Income – (Cap Gain + Q Div)]
  • (2) Lesser of (A) 20% Q Div or Taxable Income – Cap Gain
  << Back to Top >>      
     
23. Tax on Investment Income of Child under 18
 
  • First $1,050 not subject to tax
  • Second $1,050 is taxed on 10%
  • The balance is taxed on estate or trust rates, not parent's rate anymore.
  • Up to $2,500 – 10%   L.T. Cap Gain & Q. Div:
    $2,551 to $9,150 – 24% 0% $2,600 <
    $9,151 to $12,500 – 35% 15% $2,601 - $12,700
    All over $12,501 – 37% 20% >$12,700
  << Back to Top >>      
       
24. Adoption Credit – Form 8839    
 
  • Taxpayers could take a tax credit up to $13,840 for qualifying expenses paid to adopt a eligible child, the amount is phased out if MAGI is between $207,580 - $247,580.
  << Back to Top >>      
       
25. Credit for Elderly or Disabled
    AGI Limit OR Nontaxable SS and pension limit
  Single, Head of Household $17,500   $7,500
  Married - one eligible $20,000   $10,000
  Married - both eligible $25,000   $15,000
  Married - filing separately $12,500   $5,000
  << Back to Top >>      
       
26. Child Care Credit    
 
  • Qualified exp. increased to $3,000 for one qualifying child and $6,000 for two or more.
  • 35% of qualified exp if AGI < $15,000; reduced by 1% for each $2,000 increased in AGI over $15,000; 20% for AGI > $43,000.
  • The credit is no longer allowed against the AMT.
  • Nontaxable compensation is no longer included in earned income to figure the credit.
  << Back to Top >>      
       
27. Child Tax Credit    
 
  • - Max $2,000 per child, refundable max $1,400. Phased out at $50 for each $1,000 of MAGI > $400,000 for MFJ; > $200,000 for others.
  << Back to Top >>      
       
28. EIC    
 
  • Tax Preparers need to file Due Diligence Checklist Form 8867 with all EITC claims.
  • Investment income should be less than $3,500.
  • Earned income no longer includes nontaxable employee compensation.
  • It is figured using AGI instead of MAGI.
  • It will be also affected by the filing status of taxpayers.
  • Income ranges:
 
No Child
Income: $1 - $15,270 ($20,950 MFJ)
 
1 Child
Income: Income: $1 - $40,320 ($46,010 MFJ)
 
2 Children
Income: $1 - $45,802 ($51,492 MFJ)
 
3 or more
Income :$1 - $49,194 ($54,884 MFJ)
  << Back to Top >>      
       
29. Education Credits – Form 8863    
  Taxpayers could claim an education credit in the same year in which they receive a distribution from a Coverdell education savings account or a qualified tuition program, however, the expenses cannot take both benefit.
  AAmerican Opportunity Credit (Max $2,500 per student) (Extended to 2017)
  • 40% of the credit may be refundable
  • 100% of 1st $2,000 & 25% of the next $2,000 per student
  • First 4 yrs of postsecondary education at least half time, tuition & fees as well as books, supplies and equipment do not need to be purchased from the institution. (not room and board, insurance, medical, nonacademic fees, and any course involving sports and hobbies)
  • Available only for 4 tax years per each eligible student.
  • Phase out range MAGI 160,000 – 180,000 joint return
  • Phase out range MAGI 80,000 – 90,000 single return

  Lifetime Learning Cr. ( Max $2,000):
  • 20% on tuition & fees ( not books, room or board)
  • Eligible expenses increased to maximum $10,000 per return.
  • Phase out range MAGI $110,000 – $130,000 joint return.
  • Phase out range MAGI $55,000 – $65,000 single return.
  • All years of postsecondary education.

  << Back to Top >>      
         
30. Retirement Savings Contribution Credit – Form 8880    
 
  • Amount of credit will be up to $1,000 ($2,000 MFJ) for making eligible contributions to an IRA or employer-sponsored retirement plan.
  • To qualify, the taxpayer should meet the following conditions:
    • AGI < $31,500 S; < $47,250 HH; < $63,000 MFJ.
    • Not a dependent of another person.
    • Born before 1/1/2001.
    • Not a full-time student during at least 7 calendar months of a year.
  • The amount of credit is calculated by using the filing status, AGI and amount of eligible contributions (Contributions – Distributions).
  << Back to Top >>      
         
31. Small Employer Health Insurance Tax Credit – Form 8941    
 
  • Need to setup the plan through a government marketplace.
  • Small employer is the one with no more than 25 full-time equivalent employees and average annual wages of no more than $52,000.
  • Tax credit up to 50% of the employer's contribution toward employees' coverage.
  • The employer must contribute at least 50% of the premium.
  • Employers with 10 or fewer employees with average annual wages of less than $25,000 will get full credit.
  • The credit phase out if more than 10 employees or higher average wages.
  • 2% S Corp shareholders and more than 5% owner are not considered as full-time employee.
  • Only available for 2 consecutive tax years.
  << Back to Top >>      
         
32. Alternative Minimum Tax    
 
  • Exemption increased to $109,400 MFJ; $70,300 S; $54,700 MFS.
  • Phase-out threshold increased to $1M MFJ, $500,000 for all others.
  << Back to Top >>      
         
33. Health Insurance Coverage    
 
  • Taxpayer needs to indicate in the return each household member have minimum health care coverage for full year on Line 61, otherwise
  • Taxpayer may get the Form 1095-A, 1095-B or 1095-C for the health insurance coverage information provided by health care providers.
  • File Form 8965 to claim the health coverage exemption or make the shared responsibility payment.
  • The coverage is considered unaffordable if it is over 8.05% of household income.
  • Taxpayer needs to pay higher of $347.50 per person under age 18 and $695.00 per person over age 18, max $2,085 or 2.5% of income above filing threshold, if there is no health insurance plan covered.
  • No penalty after 1/1/2019.
  << Back to Top >>      
         
34. Premium Tax Credit – Form 8962
  • Enrolled in health insurance through the Marketplace and the household income is between 100% and 400% of the federal poverty line.
  If your family size was Poverty line for states except Alaska and Hawaii
  1 $12,060
  2 $16,240
  3 $20,420
  4 $24,600
  5 $28,780
  6 $32,960
  7 $37,140
  8 $41,320
  • Taxpayer should receive the Form 1095-A from the Marketplace for the premium paid and credit advance in each month.
  • If advance payments exceed the allowable credit, taxpayer need to pay back the excess, but there is a limit on the required repayment.
  Income to poverty
Repayment Limit
   
for a filling status of Single
for any other filling status
  Less than 200
$300
$600
  At least 200 but less than 300
$775
$1,550
  At least 300 but less than 400
$1,300
$2,600
  400 or more
No Limit
  << Back to Top >>      
         
35. Estimated Tax Safe Harbor    
 
  • For 2019, if 2018 AGI > $150,000 ($75,000 MFS), you will have to pay the smaller of 90% of your expected tax for 2019 or 110% of the 2018 tax.
  << Back to Top >>      
         
36. Social Security Summary:    
   
2018
2019
  FICA Limit
$128,400
$132,900
  Earnings for a credit
$1,320
$1,360
  Earnings (2:1) <65
$17,040
$17,640
  Earnings (3:1) yr reach 65
$45,360
$46,920
  Month reaching 65 and after reducing
no reducing
no reducing
  << Back to Top >>      
         
37. Gift and Estate Taxes    
 
  • Annual gift tax exclusion is $15,000 in 2018 & 2019.
  • If the donor's spouse is not a US citizen, the amount of exclusion will be $149,000.
  • The life time exclusion amount for gifts made and estate who died in 2018 is $11.18M ($11.4M - 2019).
  • The estate tax exemption are portable, a surviving spouse could elect to take advantage of the unused portion of the estate tax exclusion of the predeceased spouse, max $11.18M. Form 706 of predeceased spouse needed to file to make the election. The Generation-skipping transfer tax exemption is not portable.
  • Recipients of gifts of $100,000 from foreigners, or $16,076 from foreign corporations required to report under Form 3520.
  << Back to Top >>      
         
38. Efile with identification    
 
  • Need to input the driver license/State ID of taxpayer and spouse in order to efile. If not, the return may be rejected or processing time increased.
  << Back to Top >>      
         
39. Form W-2 verification code    
 
  • Form W-2 verification code – If there is 16-character verification code shown on the W-2, it needed to be input if using e-filing.
  << Back to Top >>      
         
40. 2017 Tax Rate    
  Tax rate Single filers Married filing jointly or qualifying widow/widower Married filing separately Head of household
  10% Up to $9,525 Up to $19,050 Up to $9,525 Up to $13,600
  12% $9,526 - $38,700 $19,051 - $77,400 $9,526 - $38,700 $13,601 - $51,800
  22% $38,701 - $82,500 $77,401 - $165,000 $38,701 - $82,500 $51,801 - $82,500
  24% $82,501 - $157,500 $165,001 - $315,000 $82,501 - $157,500 $82,501 - $157,500
  32% $157,501 - $200,000 $315,001 - $400,000 $157,501 - $200,000 $157,501 - $200,000
  35% $200,001 - $500,000 $400,001 - $600,000 $200,001 - $300,000 $200,001 - $500,000
  37% $500,001 or more $600,001 or more $300,001 or more $500,001 or more
  << Back to Top >>      
         
41. 2018 NYS Tax Summary
  1. Itemized Deduction – IT-196
 
  • Form W-2 verification code – If there is 16-character verification code shown on the W-2, it needed to be input if using e-filing.
  • No limit on real estate tax deduction
  • Allow casualty and theft loss
  • Allow unreimbursed employee expenses
  • Allow misc. deduction subject to 2% of AGI
  2. NYS Child and Dependent Care Credit
 
  • the qualifying expenses limits increased to $7,500 for three kids, $8,500 for four and $9,000 for five or more.
  3. Alimony – not to follow the changes made by TCJA  

  4. Allow qualified moving expenses  

  5. Empire State Child Credit  

 
  • no longer use the amount of federal child tax credit to compute. It will base on the amount calculated by using 2017 federal child tax credit method.
  6. 529 Qualified Withdrawals
 
  • - Withdrawals for kindergarten through 12th grade school tuition are not qualified withdrawals.
7. 2018 NYS Individual Income Tax Rate:    
  Tax rate Single filers Married filing jointly or qualifying widow/widower Head of household
  4% Up to $8,500 Up to $17,150 Up to $12,800
  4.5% $8,501 - $11,700 $17,151 - $23,600 $12,801 - $17,650
  5.25% $11,701 - $13,900 $23,601 - $27,900 $17,651 - $20,900
  5.9% $13,901 - $21,400 $27,901 - $43,000 $20,901 - $32,200
  6.45% $21,401 - $80,650 $43,001 - $161,550 $32,201 - $107,650
  6.65% $80,651 - $215,400 $161,551 - $323,200 $107,651 - $269,300
  6.85% $215,401 - $1,077,550 $323,201 - $2,155,350 $269,301 - $1,616,450
  8.82% $1,077,551 or more $2,155,351 or more $1,616,451 or more
8. 2018 NYC Individual Income Tax Rate:    
  Tax rate Single filers Married filing jointly or qualifying widow/widower Head of household
  3.078% Up to $12,000 Up to $21,600 Up to $14,400
  3.762% $12,000 - $25,000 $21,600 - $45,000 $14,400 - $30,000
  3.819% $25,000 - $50,000 $45,000 - $90,000 $30,000 - $60,000
  3.876%% $50,000 or more $90,000 or more $60,000 or more
9. NYC School Tax Credit (rate reduction amount, in addition to fixed amount):    
  Tax rate Single filers & Married filing separately Married filing jointly or qualifying widow/widower Head of household
  0.171% Up to $12,000 Up to $21,600 Up to $14,400
  0.228% $12,000 - $500,000 $21,600 - $500,000 $14,400 - $500,000
  << Back to Top >>      
 
42. 2018 Business Tax Summary    
  1. Corporation Tax Rate – 21%
 
  2. Deduction of Business Interest
 
  • Interest expenses limited to 30% of adjusted taxable income for the years after 2017.
  • Real property trades and small business with gross receipts less than 25M is exempted for the limitation.
  • Disallowed interest may be carried forward indefinitely.

  3. Corporation Alternative Minimum Tax:
 
  • Repealed for the years after 12/31/17
  • Prior-year minimum tax credit could use to offset the regular tax liability for any tax year and is able to claim a refund of 50% of the remaining credits in the tax years beginning in 2018, 2019 and 2020 and claim the full refund of the remaining credit in year 2021.

  4. Section 179
 
  • Increased to 1M, phase-out threshold from 2.5M
  • Expands to the investments to the nonresidential real property, such as roofs, heating, ventilation and air-conditioning property, fire protection and alarm systems, and security systems.

  5. Bonus Depreciation
 
  • Sept 27 2017 to 2022 – 100%, 2023 – 80%, 2024 – 60%, 2025 – 40%, 2026 – 20%

  6. Depreciation
 
  • Qualified improvement property assigned 15-year recovery period.
  • Depreciation caps for passenger automobiles increased.

  7. NOL
 
  • arising after 12/31/17 is limited to 80% of taxable income, no carryback and carry forward indefinitely.

  8. Meals and Entertainment
 
  • Entertainment is no longer deductible after 12/31/17
  • 50% deductions for meals provided for the convenience of employer after 12/31/17 and disallowed after year 2025.
  • No change on 50% deductions for business meals and 100% deduction for recreational and social activities.

  9. Transportation Fringe Benefit
 
  • Disallow benefits include transportation in connection with travel between the employee's residence and place of employment, any transit passes and qualified parking.

  10. R & D Expenditures
 
  • Capitalized and amortized over 5 years, upon retirement, or disposition of property, any remaining basis continues to be amortized over the remaining period.

  11. Dividends-Received Deduction
 
  • 70% reduced to 50% and 80% reduced to 65%

 
12. Minimum Tax for Companies    
 
  • Fixed dollar minimum tax rates will depend on the receipts of the companies located in NY, NYC and NJ:
  Receipts NYC Corp & NY ‘C’ Corp NY S Corp  NY IT-204-LL NJ Corp
  < $100,000 $  25 $ 25 $ 25 $ 500       
  $   100,001 - $     250,000 75 50 50 750
  $   250,001 - $     500,000 175 175 175 1,000
  $   500,001 - $  1,000,000 500 300 500 1,500
  $1,000,001 - $  5,000,000 1,500 1,000 1,500 a 2,000
  $5,000,001 - $25,000,000 3,500 3,000 3,000 a 2,000
  $25M - $50M 5,000 4,500 4,500 a 2,000
  $50M - $100M 10,000 4,500 4,500 a 2,000
  $100M - $250M 20,000 4,500 4,500 a 2,000
  $250M - $500M 50,000 4,500 4,500 a 2,000
  $500M - $1B 100,000 4,500 4,500 a 2,000
  > $1B 200,000 4,500 4,500 a 2,000
 
  • a. $25 for the LLC that are disregarded entities; it also apply to regular partnership with receipts $1M and above.
 

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