In a tax system and in economics, the tax rate describes the burden ratio (usually expressed as a percentage) at which a business or person is taxed. There are several methods used to present a tax rate: statutory, average, marginal, and effective. These rates can also be presented using different definitions applied to a tax base: inclusive and exclusive.
Read more about Tax Rate: Statutory, Average, Marginal, Effective, Inclusive/exclusive
Famous quotes containing the words tax and/or rate:
“In other words, a democratic government is the only one in which those who vote for a tax can escape the obligation to pay it.”
—Alexis de Tocqueville (1805–1859)
“At the rate science proceeds, rockets and missiles will one day seem like buffalo—slow, endangered grazers in the black pasture of outer space.”
—Bernard Cooper (b. 1936)