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
One that is legally binding because it is in conformity with legal requirements and conditions. ...
Ability of a large group of retail stores or shopping center to take business away from other smaller or more distant shopping stores. ...
Conditions and terms agreed to in a contract. ...
Reformation in real estate means a legal action to straighten out an erroneous deed, a misleading document, an error, a paragraph, or a contract entirely which resulted from an ...
The closing process is the final step of a property sale. It starts when the home seller agrees to the home buyer’s offer and it ends after all Closing costs are paid ...
The company is not responsible to a third party if an account or financial instrument is dishonored by the debtor. The creditor's recourse is solely to the debtor's property. An example is ...
U.S. law making it illegal to discriminate when giving credit based on factors such as race, religion, color, age, national origin. A lender must respond to credit applications within 30 ...
Barrel, reservoir, or tank for storing rain runoff. ...
“What is Situs?”, you ask.Situs is a word in Latin that basically means the site or location where something exists or originates. Like most words in latin, situs is usually ...
Have a question or comment?
We're here to help.