The tax-cut bill that passed the House today, HB 380, cuts one-tenth of a percentage point from the tax rates for Idaho’s top two individual income tax brackets, which are now at 7.4 and 7.1 percent, and from its corporate income tax, which is now 7.4 percent, along with raising the grocery tax credit by $10. In the House debate today, Majority Leader Mike Moyle, the bill’s sponsor, noted that the 7.4 and 7.1 tax brackets, the top two of Idaho's seven brackets, reach down to some relatively low income levels.

Here are the details, based on the standard deductions and personal exemptions contained in Idaho’s Form 40 tax form:

The 7.1 percent bracket requires taxable income of $7,280. After standard deductions and personal exemptions, that equates to a federal adjusted gross income of $17,560 a year for a single filer, or $35,860 for a family of four, married and filing jointly.

The 7.4 percent bracket requires taxable income of $10,800. After standard deductions and personal exemptions, that equates to a federal adjusted gross income of $21,100 a year for a single filer, or $39,400 for a family of four.

“That’s where you start hitting the upper bracket,” said Mike Chakarun, tax policy manager for the state Tax Commission. “We run through the brackets pretty quickly.”