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| | Dear Lawmaker, You can do something to help your low- and middle-income constituents with children. The Knight Plan will help families with children, both by leaving more money in their pockets and by providing $290 million in new funding for education. - 1,650,000 Alabama income tax returns report an income less than $50,000. That's 73% of the returns. The Knight Plan offers this group an average tax cut of $197 to support their families.
- 70% of Alabama sole proprietors had total income below $50,000 in 1998.
- Only 610,000 tax filers make more than $50,000.
| Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
less than
$15,000 | 31% | 680,000 | -$156 | -0- | |
| Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
$15,000
to
$30,000 | 26% | 570,000 | -$285 | -0- | |
| Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
$30,000
to
$50,000 | 19% | 410,000 | -$141 | -0- | - In this group, 62% will get a tax cut and 29% will pay more.
| | Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
$50,000
to
$75,000 | 12% | 260,000 | Varies | Varies | - A family of three making up to $63,300 will get a tax cut.
- A family of four making up to $71,100 will get a tax cut.
- 51% of this group receive a tax cut averaging $246.
- 43% of this group receive a tax increase averaging $352.
| | Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
$75,000
to
$100,000 | 6% | 130,000 | $392 | -$80 | - In this group, 18% get a tax cut and 78% get an increase.
| |
| Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
$100,000
to
$200,000 | 4% | 100,000 | $1,360 | -$349 | |
| Annual income | % of all tax returns | Number of tax filers | Change in AL income tax (avg.) | Change in US income tax (avg.) |
|---|
greater than
$200,000 | 2% | 40,000 | $11,688 | -$4,359 |
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