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.


Income Tax; Taxation.

West's Encyclopedia of American Law, edition 2. Copyright 2008 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
We find sharp decreases in marginal effective tax rates (METRs) on new investment and in effective average tax rates (EATRs).
Virginia's average tax rate was 1.05 percent; its five-year average gain 20 percent.
They said that in the next budget, government should bring down average tax rate on corporate income that would encourage new investment and strengthen corporate sector in the country.
The bottom 50 percent of returns also had a much lower average tax rate of 3.6 percent in 2015.
business sector as a whole pays an average tax rate of 24.3 percent.
McDonalds was quoted as stating: "From 2010-2014, the McDonald's companies paid more than USD2.1bn (EUR2bn) just in corporate taxes in the European Union, with an average tax rate of almost 27%."
He said: "From 2010-2014, the McDonald's companies paid more than $2.1bn just in corporate taxes in the European Union, with an average tax rate of almost 27%."
(1) While the PIT system remained unchanged before 2005, as average personal income increased, the increasing average tax rate expanded the income redistribution effect of PIT (measured as the Musgrave and Thin [MT] index, which is the difference between the pre- and post-Gini Index) despite the decrease in tax progressivity (measured as the Kakwani Index).
Clearly, any diverging trends across income groups are hidden behind this aggregate average tax rate. Therefore, in Figures 2 and 3, we plot changes in average tax rates for income quintiles and fractiles of the top 1% comparing the actual change (left panel) with the counterfactual scenario of constant pretax incomes (right panel), respectively.
The average tax rate in residence state A is fixed for 0 < B1 I <I, as it is calculated for given total income I.
Scheid said lasts year's rate was $16.93, which means the average tax rate in Sterling will increase $187 per year.
And at state and local levels, while the poorest fifth of Americans pay an average tax rate of over 11 percent, the richest one percent of the country pay--are you ready for this?--half that rate.