Taxation in Austin Island

taxation in austin island is paid by resident there are different taxes paid in austin island

unitary Income tax

in austin island income taxes for the 2021 tax year are on a progressive bracket there are 7 brackets between 2 and 29%

bracket	income	tax
2%	10001-50000	2% of applicable income
12%	50001-120000	800+12% of applicable income
14%	120001-220000	9200+14% of applicable income
22%	220001-350000	23200+22% of applicable income
25%	350001-500000	51800+25% of applicable income
27%	500001-1000000	89300+27% of applicable income
29%	1000001+	224300+29% of applicable income

all filing statuses use this bracket above

all filers who make less than 10000 a year put 0 for unitary tax on the return form

also a 6% social security and 2% for medicare at 10000 units

deductions

in austin island there is no standard deduction only an itemized deduction which is obligatory by the taxpayer if taxpayers choose a deduction they can either write off gifts and or donations or put 3000 on the deduction line if not they can just put 0.