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 ?
The difference between the two types of tax bases is a mere difference in form rather than of substance, as long as legislators make appropriate tax rate adjustments on account of their choice of a tax-exclusive or tax-inclusive base.
The 1913 Congress gave no thought--one way or the other--to the specific question of the tax-inclusive or tax-exclusive character of the income tax; in 1917, Senator M.
The effective tax-exclusive ad valorem tax rate, t = T / [P.sup.0], is therefore:
Hence, from equation (3) the tax-exclusive price, [P.sup.0], was $0.617, and from equation (4) the effective tax-exclusive ad valorem tax rate on petrol, t, was 75 per cent.
Table 1 shows the commodity groups used and the effective ad valorem tax-exclusive percentage rates at 2001 (the last year for which HES data are available).
In this situation, the net GST tax is "tax-exclusive," meaning there is no GST tax on the tax itself.
The tax-exclusive method applies the tax to the base price only.