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
Something that has been built and physically exists at a specified location, such as a building, garage, etc. Something consisting of related parts, such as the organization and terms of ...
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Legal order for a person to present at a deposition or trial documents in his possession, such as related to a real estate transaction. ...
Unit of measure for the change in interest rates for loans. One basis point equates to 1 percent of 1 percent, that is, 0.01 percent. Therefore, one hundred basis points equals 1 percent. ...
Landlord's right to receive the value of the tenant's property to pay for unpaid rents or for damages to the leased premises. ...
Current cost to replace property with an identical property after allowing for the depreciated value of the property. ...
A partition or wall that provides no support to the structure in which it is located. For example, a nonbearing partition or wall does not support any floors above it. A partition which ...
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