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 ?
In general, suppose that the tax-exclusive ad valorem tax rate imposed on good i is denoted [t.
To simulate the effects of an increase in the excise tax, it is required to calculate the tax-exclusive price and the effective ad valorem tax rate on petrol, given information about the consumer price (which is tax-inclusive) of petrol per litre, along with the excise per litre and the GST rate.
The tax-exclusive method applies the tax to the base price only.