Tax Rate
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
More From encyclopedia.com
Income Tax , An income tax is a portion of an individual or business’s earnings that is collected by the government. The income tax is charged, or levied, as a pe… Regressive Tax , A tax with a rate that decreases as the taxpayer's income increases.
The result of a regressive tax is that the lower-income taxpayer pays a larger p… Tax Rates , FLAT TAX PROVISION (ISSUE)
A flat tax taxes everybody at the same tax rate. A graduated tax taxes at different tax rates. In the late-1990s flat tax… Tax Reform Act , The Tax Reform Act of 1986 (100 Stat. 2085, 26 U.S.C.A. §§ 47, 1042) made major changes in how income was taxed. The act either altered or eliminated… Taxation , Governments need money so they can provide important services to their citizens. Such services can include national defense from foreign threats, pol… United States. Internal Revenue Service , The Internal Revenue Service (IRS) is the largest bureau within the U.S. Department of the Treasury. Headquartered in Washington, D.C., the agency is…
You Might Also Like
NEARBY TERMS
Tax Rate