Tax rate
Aspect of tax law / From Wikipedia, the free encyclopedia
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For a type of taxation system in the United Kingdom and elsewhere, see Rates (tax).
In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed. The tax rate that is applied to an individual's or corporation's income is determined by tax laws of the country and can be influenced by many factors such as income level, type of income, and so on.[1] There are several methods used to present a tax rate: statutory, average, marginal, flat, and effective. These rates can also be presented using different definitions applied to a tax base: inclusive and exclusive.
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