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Tax Rate
(redirected from Statutory tax rate)

   Also found in: Dictionary/thesaurus, Financial, Encyclopedia, Wikipedia 0.01 sec.

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.



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Estimation of Domestic Manufacturing Deduction Incentive The benefit from the manufacturing deduction is determined by taking the excess of the maximum statutory tax rate over firms' marginal tax rate, multiplied by the product of estimated taxable income and 3 percent so long as the resulting figure does not exceed 50 percent of payroll expenses.
Their measure indicates that the economic effective tax rate was about 16 percent between 1988 and 2005, when the statutory tax rate was either 34 or 35 percent.
[ILLUSTRATION OMITTED] The United States has tax treaties with many countries, which may reduce the statutory tax rate for income paid to U.
 
 
 
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