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
An individual legally fit and able to undertake an activity or function. ...
In the real estate industry, several professional designations can be awarded to real estate professionals. These professional designations provide real estate professionals with the ...
A Construction method of using twice the number of framing members to provide additional structural strength. ...
Unfortunately, we encounter false advertising daily. False advertising refers to deceptive or misleading ads and commercials that fail to showcase a product’s or service’s ...
Series of intersecting lines dividing a map or chart into equal sections. Series of intersecting bars, wires or support as in a grating or supports in a dropped ceiling. ...
When you hear someone in real estate saying there will be a boring test, they don't mean a dull exam is coming up. What is a soil boring test? Let's find out the meaning of a boring test! ...
A statistical procedure using a body of measurable independent variables to compute an equation that successfully measures and forecasts the variance in another variable, the dependent ...
The meaning of a disclosure statement is a legal document signed by both parties, the lender and the borrower or buyer. This statement outlines the terms and conditions, the potential ...
Written proposals and acceptances applicable to the aspects of the transaction. The escrow agent must follow the purchase and sale agreement. ...
Have a question or comment?
We're here to help.