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 ?
BNA Sales Tax Rates provides both current and historical sales and use tax rates for every taxing jurisdiction in the U.
Robert Fitzgerald, principal assessor, told selectmen the tax rate will be an increase of about $278 for the owner of the average single-family home in town.
An analysis by NHBR of the amount 13 locally based, publicly traded companies paid in taxes in fiscal year 2010 shows they had an average effective tax rate of 24 percent.
To make an informed judgment about whether or not the progressive income tax has been more or less a force for economic justice during various historical periods, it is important to have some notion of what levels of marginal and average tax rates have applied in the past.
The gain is subject to a 50% financial aid assessment (after deductions and allowances) and a 5% marginal income tax rate.
A Chicago Reporter analysis of the Illinois State Board of Education data shows that school districts with the lowest property tax rates generated much more in local revenue per pupil than those with property tax rates two, three, and even five times higher.
In budget legislation announced last May, the Government introduced proposals to (1) reduce the corporate income tax rate from 21 percent to 19 percent over a period of years through 2010 and (2) eliminate the corporate surtax by 2008.
The tax rate of so-called third-category beer is 69 yen per liter, compared with 222 yen for beer.
From a pure tax perspective, Switzerland is usually favored because (as discussed above) favorable tax rates can be negotiated with the Swiss tax authorities and Switzerland has a very strong treaty network.
If you are single, but you have dependents living with you (whether they are your children or not), you might qualify for a lower tax rate available to you as head of household or surviving spouse.
When a state's tax rate becomes excessive, it ends up losing not only the increased taxes it was hoping to get, but the existing taxes it had been getting as commerce moves elsewhere.
This conclusion is based on studies that look at variations in tax rates in points of time and variations in tax rates over time.