Marginal Tax Brackets For Tax Year 2025. Cii noted the stark gap between the highest marginal tax rate for individuals, at 42.74%, and the standard corporate tax rate, at 25.17%. The 2025 tax brackets vary by filing status.
Economists have also called on the government to cut income tax rates in budget 2025. For tax year 2025, which applies to taxes filed in 2026, there are seven federal tax brackets with income tax rates of 10%, 12%, 22%, 24%, 32%, 35%, and 37%.