NBER TAXSIM @(#) $Version:      241116  With TCJA
User modifications to tax law

State law coded through        2023
Later state laws extrapolated from that year.
Marginal rate not requested.

   Input Data:
        1. Record ID                                           11.00
        2. Tax Year                                          2023.00
        3. State Code                                          14.00 IL
        4. Marital Status                                       1.00
        5. Age (Txpyr/Spouse)                                   0.00        0.00
        6. Dependent Exemptions                                 0.00
        8. #deps for CCC/CTC/EIC                                0.00
        9. Wages (Txpyr/Spouse)                           1000000.00
        10. Self-employment income                              0.00        0.00
        11. Dividend Income                                     0.00
        12. Interest Received                                   0.00
        13. Short Term Gains                                    0.00
        14. Long Term Gains                                     0.00
        15. Other Property                                      0.00
        16. Other Non-Property                                  0.00
        17. Taxable Pensions                                    0.00
        18. Gross Social Security                               0.00
        19. Tot/Txpy/Spouse UI                                  0.00        0.00
        20. Non-taxable Transfers                               0.00
        21. Rent Paid                                           0.00
        22. Property Taxes Paid                                 0.00
        23. Other Itemized Deds                                 0.00
        24. Child Care Expenses                                 0.00
        25. Mortgage Interest                                   0.00
        26. S-Corp profits                                      0.00
        27. Txpy/Spouse QBI w/o PO                              0.00
        28. Txpy/Spouse SSTB w PO                               0.00

    Basic Output:
        1. Record ID                                            11.0
        2. Year                                                 2023
        3. State (SOI code)                                 14    IL
        4. Federal IIT Liability                            325207.5
        5. State IIT Liability                               49500.0
        6. SS Payroll Tax Liability                          31632.4

    Marginal Rates wrt Weighted Average Earnings:
        9. Weighted Payroll Tax Rate                         31632.4

    Federal Tax Calculation:                                    Base         +$1
        10. Federal AGI                                    1000000.0  1000000.94
        11. UI in AGI 1979+                                      0.0         0.0
        12. Social Security in AGI 84                            0.0         0.0
        13. Zero Bracket Amount                              13850.0     13850.0
        14. Personal Exemptions                                  0.0         0.0
        17. Deductions allowed                               10000.0     10000.0
        18. Federal Taxable Income                          986150.0   986151.06
        19. Federal Regular Tax                             325207.5   325207.88
        22. Child Tax Credit*17/22 98                            0.0         0.0
        23. Refundable Part                                      0.0         0.0
        24. Child Care Credit 1076+                              0.0         0.0
        25. Earned Income Credit 1975                            0.0         0.0
        26. Alternative Min Income                         1000000.0  1000000.94
        27. AMT                                                  0.0         0.0
        28. Income Tax Before Credits                       325207.5    325207.9
        29. FICA                                             31632.4    31632.42
        QBI deduction                                            0.0         0.0

    State Tax Calculation:                                      Base         +$1
        32. AGI                                            1000000.0  1000000.94
        34. Standard Deduction                                   0.0         0.0
        35. Itemized Deductions                                  0.0         0.0
        36. Taxable Income                                 1000000.0  1000000.94
        37. Property Tax Credit                                  0.0         0.0
        38. Child Care Credit                                    0.0         0.0
        39. EIC                                                  0.0         0.0
        40. Total Credits                                        0.0         0.0
        Child Tax Credit                                         0.0         0.0
        Tax before credits                                       0.0         0.0

    TCJA 2018+:                                                 Base         +$1
        42. QBI Deduction                                        0.0         0.0

    Additional Medicare Taxes 2013+:                            Base         +$1
        Net Investment Income Tax                                0.0         0.0

    Decomposition of Federal Marginal Rate 
 (taxpayer earned income) 
 Regular Income Tax:
        Cares Recovery Rebates                                   0.0
        Child Care Credit                                        0.0
        Child Tax Credit                                         0.0