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Income tax rates: progressive individual bands, agricultural income aggregation, and separate fixed rates for special-source income. Tax liability is determined by applying prescribed rate schedules to total income, with Part I setting progressive bands for individuals (including distinct senior citizen bands) and fixed rates for various entities. Part II provides a formulaic method to include net agricultural income above the threshold in computation-aggregate income taxed, then tax on agricultural income plus threshold computed and subtracted to yield tax attributable to total income. Part III taxes prescribed special-source incomes at fixed rates and adds that tax to tax on ordinary-source income.
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<h1>Income tax rates: progressive individual bands, agricultural income aggregation, and separate fixed rates for special-source income.</h1> Tax liability is determined by applying prescribed rate schedules to total income, with Part I setting progressive bands for individuals (including distinct senior citizen bands) and fixed rates for various entities. Part II provides a formulaic method to include net agricultural income above the threshold in computation-aggregate income taxed, then tax on agricultural income plus threshold computed and subtracted to yield tax attributable to total income. Part III taxes prescribed special-source incomes at fixed rates and adds that tax to tax on ordinary-source income.
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