Imposition and rate of tax

§ 862. Imposition and rate of tax. A tax is hereby imposed for each taxable year on the pass-through entity taxable income of every electing partnership and every electing S corporation. This tax shall be in addition to any other taxes imposed under this chapter and shall be determined in accordance with the following table:
For each taxable year beginning on or after January first, two thousand twenty-one: If pass-through entity taxable income is: Not over $2,000,000 6.85% of taxable income. Over $2,000,000 but not over $5,000,000 $137,000 plus 9.65% of the excess over $2,000,000. Over $5,000,000 but not over $25,000,000 $426,500 plus 10.30% of excess over $5,000,000. Over $25,000,000 $2,486,500 plus 10.90% of the excess over $25,000,000.