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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005

tax rate

The percentage used to calculate various taxes.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
This result therefore suggests that there is a one-for-one increase in the tax-inclusive gasoline price from an increase in the gasoline tax, a result consistent with a retail gasoline market in which firms are perfectly competitive and produce at constant cost.
Specification (2) in Table 3 reveals that there is no statistical evidence of lagged responses of tax-inclusive gasoline prices (rtaxl) to changes in the gasoline tax, so that prices shift fully during the first month of the tax change.
For instance, a 1-cent increase in the wholesale price of gasoline (resale) raises the tax-inclusive price by eight-tenths of a cent, when a lagged response to the wholesale price (resalel) is included.
These specifications indicate that a 10-cent increase in the gasoline tax raises the tax-inclusive gasoline price by 9.93 cents.
Here, we test the hypothesis that the tax-inclusive gasoline retail price is more responsive to gasoline excise tax increases than to gasoline tax reductions.
has already implemented a price cut of 4.8% for all products by keeping tax-inclusive prices unchanged from prices excluding tax.
Thus, the wholesale distributor could face some significant losses in this situation - especially if it has already reimbursed its franchisee for the full, tax-inclusive price of the gasoline the franchisee sold to the state agency.
Should the Committee determine that the price of goods or services be rendered on invoices as a tax-inclusive price, then, we recommend that the sales invoice or slip show the vendor's registration number and also a include statement to the effect that "The invoiced price includes federal tax of 'x' percent and provincial tax of 'y' percent." The disclosure of the tax rate will enhance government accountability, even though the amount of tax must be computed by the customer.

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