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TAX TABLES
The 2002 tax tables incorporate for the first time the new 10% tax bracket created by the 2001 tax act. (The benefit of the 10% rate for 2001 was delivered mainly through tax rebate checks in the summer and fall of 2001.)

Married Individuals Filing Joint Returns and Surviving Spouses - Tax Year 2002
Taxable Income	Tax
Not over $12,000	10% of the taxable income
Over $12,000 but not over $46,700	$1,200 plus 15% of the excess over $12,000
Over $46,700 but not over $112,850	$6,405 plus 27% of the excess over $46,700
Over $112,850 but not over $171,950	$24,265.50 plus 30% of the excess over $112,850
Over $171,950 but not over $307.050	$41,995.50 plus 35% of the excess over $171,950
Over $307,050	$89,280.50 plus 38.6% of excess over $307,050

Unmarried Individuals (other than surviving spouses and heads of household) - Tax Year 2002
Taxable Income	Tax
Not over $6,000	10% of the taxable income
Over $6,000 but not over $27,950	$600 plus 15% of the excess over $6,000
Over $27,950 but not over $67,700	$3,892.50 plus 27% of the excess over $27,950
Over $67,700 but not over $141,250	$14,625 plus 30% of the excess over $67,700
Over $141,250 but not over $307,050	$36,690 plus 35% of the excess over $141,250
Over $307,050	$94,720 plus 38.6% of the excess over $307,050

Head of Household - Tax Year 2002
Taxable Income	Tax
Not Over $10,000	10% of the taxable income
Over $10,000 but not over $37,450	$1,000 plus 15% of the excess over $10,000
Over $37,450 but not over $96,700	$5,117.50 plus 27% of the excess over $37,450
Over $96,700 but not over $156,600	$21,115 plus 30% of the excess over $96,700
Over $156,600 but not over $307,050	$39,085 plus 35% of the excess over $156,600
Over $307,050	$91,742.50 plus 38.6% of the excess over $307,050

Married Individuals Filing Separate Returns - Tax Year 2002
Taxable Income	Tax
Not Over $6,000	10% of the taxable income
Over $6,000 but not over $23,350	$600 plus 15% of the excess over $6,000
Over $23,350 but not over $56,425	$3,202.50 plus 27% of the excess over $23,350
Over $56,425 but not over $85,975	$12,132.75 plus 30% of the excess over $56,425
Over $85,975 but not over $153,525	$20,997.75 plus 35% of the excess over $85,975
Over $153,525	$44,640.25 plus 38.6% of the excess over $153,525

The contribution limit for both traditional IRAs and Roth IRAs will increase sharply for 2002, with even higher limits set for older workers.

Regular Limit: The general IRA contribution limit will be $3,000 in 2002, up from $2,000.

Older Workers: For workers aged 50 and older, the contribution limit is $3,500 for 2002.

The higher limit for older workers was authorized by Congress as part of the Tax Relief Act of 2001 to help those who haven't saved enough for retirement to make up for lost time and "catch up" on their contributions.

The IRA contribution limits are set to gradually increase over seven years as a result of the Tax Relief Act of 2001 as shown below.

The annual contribution limit for both traditional and Roth IRAs will gradually increase from $2,000 to $5,000 in the year 2008.

Year	IRA Contribution Limit
2001	$2,000
2002-2004	$3,000
2005-2007	$4,000
2008 and after^!	$5.000
⁽^{Indexed for inflation after 2008)}

Those aged 50 and older before the end of the taxable year will be eligible to contribute $500 more than the regular limits starting in 2002. The amount increases to $1,000 starting in 2006.

This provision is intended to allow older workers who haven't saved enough for retirement to make up for lost time and "catch up" on their contributions.