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Tax Rate |
Also found in: Financial, Wikipedia | 0.02 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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During wars in Korea and Vietnam, and throughout the Cold War, the most fortunate among us contributed almost as heavily to the national effort, paying at marginal rates of over 50 percent. The marginal rates are applied after various deductions and allowances. The goal of these rules is to prevent individuals in higher tax brackets from transferring assets to family members who are taxed at lower marginal rates in an attempt to evade being taxed at their own high rate. |
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