The tax levied and imposed by Section 40-18-2 shall be computed as follows: (1) For a single person, head of family, or married persons filing separate returns: a. Two percent of taxable income not in excess of five hundred dollars ($500). b. Four percent of taxable income in excess of five hundred dollars ($500) and not in excess of three thousand dollars ($3,000). c. Five percent of taxable income in excess of three thousand dollars ($3,000). (2) For married persons filing a joint return: a. Two percent of taxable income not in excess of one thousand dollars ($1,000). b. Four percent of taxable income in excess of one thousand dollars ($1,000) and not in excess of six thousand dollars ($6,000). c. Five percent of taxable income in excess of six thousand dollars ($6,000).
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