In the U.S. federal system your income is taxed in **layers**, not all at one rate. The first slice is taxed at 10%, the next at 12%, and so on — which is why your **marginal rate** (the rate on your top dollar) is higher than your **effective rate** (tax paid ÷ total income). Enter your filing status and taxable income to see the real number and a bracket-by-bracket breakdown. This uses the 2024 brackets and excludes state tax, credits and the AMT.