What tax rates are applicable for individuals who are earning income from both compensation and self/employment (business or practice)?

Compensation income shall be subject to the graduated income tax rates under Section 24(A)(2)(a) of the Tax Code. as amended. The income from business or practice of a profession shall be subject to the graduated income tax rates or if qualified, at taxpayer’s option, be subject to the 8% income tax rate based on gross sales/receipts.