Tax Bracket
Tax brackets are the divisions at which tax rates change in a progressive tax system or an explicitly regressive tax system, although this is much rarer. Essentially, they are the cutoff values for taxable income — income past a certain point will be taxed at a higher rate.
Read more about Tax Bracket: Example, Tax Brackets in Canada, Tax Brackets in Malta, Tax Brackets in New Zealand, Tax Brackets in South Africa, Tax Brackets in Switzerland, Tax Brackets in The United States
Famous quotes containing the word tax:
“But the tax collector, standing far off, would not even look up to heaven, but was beating his breast and saying, ‘God, be merciful to me, a sinner!’”
—Bible: New Testament, Luke 18:13.