Amount of tax to be paid based on taxable income. The tax rate usually changes as the unit of the tax base changes.
- Individual: Tax rate depends on whether the tax return is for a single filer, joint filer, or head of household. For example, the maximum tax rate for a joint filer in 1994 is 39,6% for taxable income over $250,000. The tax rate is 36% for taxable income over $140,000 but less than $250,000.
- Corporation: The maximum tax rate in 1994 for a corporation is 35%.
Popular Real Estate Terms
Act of forcing an individual or business to do something against their will. It is a legitimate defense in court to reserve the effect of the compelled act. ...
That part of a roof which projects beyond the sides of the building. The eaves keep rain overflow of the sides of a building structure and seal the roof rafters. ...
Broadly speaking, a commission is a remuneration a person receives after acting on someone else’s behalf.In the real estate world, you’ll usually hear the term “sales ...
Tax credit aimed at encouraging the conservation of natural resources, as well as the development of alternative resource. ...
A triangular shaped end of a building where a double sloped roof meets at the top of the triangle. A gable begins at the eaves of a roof and terminates at the roof ridge. ...
Services provide to a parcel of land public utility companies, such as gas, water, electricity. ...
(1) Flooring in a structure. (2) Open structure with flooring erected outside a main building. A deck can have different levels with direct access to the main structure. It is usually ...
To secure a listing by a real estate agent for a certain parcel of property. For example, a real estate broker wishes to list as many properties a possible to built an inventory of future ...
Mortgage for residential property. ...
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