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tax rate Definition

tax rate

noun

the percentage of income, property value, etc. assessed as tax

tax rate Law Definition

n

A percentage of net income used to compute one’s income tax liability. Currently, there are three brackets for computing federal income tax. The percentage one pays increases, as income increases, enough to move one from one bracket into a higher one of those three. See also tax.
tax rate Usage Examples

Converse of object

  • reduce: This reduced the effective tax rate for awards made under this plan from 53.8 % to around 16 % .

Adjective modifier

  • effective: This reduced the effective tax rate for awards made under this plan from 53.8 % to around 16 % .
  • differential: Differential tax rates become a factor to bear in mind.

Noun used with modifier

  • corporation: To start with corporation tax rates are much lower than income tax rates.
  • income: To start with corporation tax rates are much lower than income tax rates.