tax rate

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Tax rate

The percentage of tax paid for different levels of income.

Tax Rate

A percentage of one's income that one must pay in taxes. Tax rates vary according to incomes. That is, one who makes $100,000 per year usually has a higher tax rate than one who makes $25,000. See also: Marginal tax rate, Average tax rate.

tax rate

The proportional amount of taxes paid on a given income or the given dollar value of an asset. If the tax is calculated on the basis of total income, it is the average tax rate. If the tax is calculated only on extra units of income, the rate is the marginal tax rate.

tax rate

the percentage rate at which a TAX is levied on income or expenditure. Tax rates are varied by government on social grounds (to redistribute income) and, as part of FISCAL POLICY, to increase or decrease spending.

tax rate

The percentage used to calculate various taxes.

References in periodicals archive ?
With the one-year delay in the deduction obviating the recursivity problem, and with the low rates of the tax making the issue of deductibility of little revenue significance, conditions were as favorable as possible for a tax-exclusive income tax.
With the dramatic increase in income tax rates, Congress was moved to reconsider--really to consider for the first time, because Congress had not focused on the question in 1913--whether the base of the income tax should be tax-exclusive or tax-inclusive.
paid within the year" was a declaration that the income tax was tax-exclusive. Despite the literal language, however, the comments of Senators Smith and Hollis make clear that this was another basic income tax design issue to which Congress had given no thought whatsoever in 1913.
Finally, Treasury's decision to allow a deduction for federal income taxes paid did not violate any tenets of basic tax logic--there is nothing inherently wrong with a tax-exclusive income tax--and was almost compelled by the statutory language.
(5) The tax-exclusive tax rate is defined as the ratio of tax paid to the producer price of the good, while the tax-inclusive tax rate is defined as the ratio of tax paid to the consumer price of the good.
I should like to thank Ivan Tuckwell for providing the HES data in the form required for this analysis, Statistics New Zealand for permission to use the data, Louise Lennard for providing the effective ed valorem tax-exclusive rates used here, and Matthew Schofield for carrying out the many budget share regressions.
This partially offsets the tax-exclusive advantage of gifts made more than three years before death, compared to tax-inclusive estate taxes.