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Tax Rate |
Also found in: Financial, Wikipedia | 0.03 sec. |
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The amount of charges imposed by the government upon personal or corporate income, capital gains, gifts, estates, and sales that are within its statutory authority to regulate. Tax rate schedules are utilized by taxpayers whose taxable incomes exceed certain designated amounts. Separate schedules are provided for married individuals who file jointly, unmarried people who maintain a household, single people, estates, trusts, and married couples who file separate returns. Cross-referencesHow to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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If the client itemizes deductions, paying down a loan with deductible interest provides a risk-free rate of return effectively equal to the loan's interest rate minus the marginal rate of tax savings forgone. In general, taxpayers with income in excess of the exclusion ($82,400 in 2006) will be taxed at the marginal rate as if there were no exclusion. 3 percent rate on income over $1 million is the highest marginal rate in the nation. |
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