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
Individual who by his expertise, education, and experience prepares syndication reports. ...
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Claim or debt that may be recovered by instituting a lawsuit. ...
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Something that is illegal. An example is an unenforceable debt because it has exceeded the statute of limitations. ...
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Ownership of property by one individual. ...
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