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 ?
To meet the significance disclosure requirement, corporations must separately disclose items that meet or exceed 5% of the tax at the statutory rate (SEC Regulation S-X, [section]210.4-08(h)(2)), meaning anything affecting ETR by at least 1.05%, using the 21% statutory rate enacted by the TCJA.
In addition to winding down the statutory rate, the proposal called for a tax on the profits American corporations hold offshore, but would incentivize the return of those sheltered profits overseas with the promise of, as Mnuchin described it in the Wednesday press conference, "a very competitive rate that will bring back trillions of dollars." The Treasury secretary, who ( spent 17 years at Goldman Sachs, assailed the corporate rate in its current form, citing it as a reason companies hold many of their profits outside the U.S.
As a starting point, mothers will still be entitled to take 52 weeks of maternity leave, with the first two weeks being compulsory leave and the first 39 weeks ordinarily being paid at statutory rates.
As we can notice, the tax burden in the second case, expressed by marginal rate, shows an upward trend even if the statutory rate is proportional.
There are many legitimate ways for corporate taxpayers to pay less than the statutory rate, and GE's in-house Internal Revenue Service accountants made sure the company was legitimately avoiding all income taxes.
He narrowed his focus to corporate tax reform, but otherwise his plan looked the same: reducing statutory rates and broadening the base by eliminating tax breaks and favors.
First, the landowner must rebut the presumption of reasonableness by showing that the statutory rate is significantly or substantially below the standard of constitutional reasonableness.
Therefore, if a distribution company spends less on capex than the amount assumed by the regulator, the effective rate of return on its actual RAB (which corresponds to actual investments) will be higher than the statutory rate of return (the opposite is also true).
UNIONS yesterday pledged to press for a "living wage" of pounds 8 an hour ahead of an increase in the statutory rate from tomorrow which will see it break through the pounds 6 barrier for the first time.
If a firm's marginal tax rate is lower than the statutory rate, especially if the lower rate is expected to continue for several years, then a conversion from LIFO results in lower current and future tax liabilities than implied by the top statutory rate.
I am a nurse on the Workers' Compensation statutory rate. Am I able to use my superannuation income protection scheme to make up my lost income?
Fathers taking paternity leave are paid a statutory rate of Au123 a week, but the commission argued they should receive 90 per cent of their actual pay.

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