The indexing factor for federal tax credits and brackets for 2023 is 6.3%. The following federal tax rates and brackets will be in effect for individuals for the 2023 tax year.
| Income level | Federal tax rate |
| $15,000 – $53,359 | 15.0% |
| $53,360 – $106,717 | 20.5% |
| $106,718 – $165,430 | 26.0% |
| $165,431 – $235,675 | 29.0% |
| Over $235,675 | 33.0% |
