Tax Rate

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Tax Rate

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-references

Income Tax; Taxation.

References in periodicals archive ?
But if you reduce the statutory rate to 25 percent or some number that's globally competitive in a territorial system, then the incentive to move offshore disappears.
We believe the following major factors explain the deviation of actual returns on RAB from the statutory rates.
A statutory rate cut would therefore reduce retailers' effective tax rates, which we estimate at an average of 35% over the past five years.
He told the national conference of the GMB union that Labour would not just increase the statutory rate, it will narrow the gap between the minimum wage and average earnings.
13 an hour - a 2% increase - while for 16 and 17-year-olds the statutory rate will rise by 7p to PS3.
65 an hour - less than half the statutory rate for adults - was cited as a "major deterrent.
85, well above the statutory rate for the national minimum wage.
The Government is planning a fresh crackdown on bosses who fail to pay the national minimum wage, ministers announced today as the latest increase in the statutory rate came into effect.
Employers who fail to pay the statutory rate, currently pounds 5.
Union leaders have called for the minimum wage to be increased to pounds 6 an hour by 2008 and say more should be done to force employers to pay the statutory rate.
M sought a fee award in excess of the statutory rate because of his attorney's (E's) expertise in tax investigation and assessment, tax litigation and experience as an IRS Special Agent.