marriage penalty

marriage penalty definition - business

marriage penalty

The increased tax liability assessed a married couple filing jointly compared to the combined tax they would pay if unmarried and filing separate returns. The penalty is greatest when a husband and wife each earn a high income.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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