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Which of the following is true about sole proprietorship in the United States?
Marginal Tax Rate
The percentage of tax applied to your next dollar of income, indicating the tax bracket rate for each additional dollar earned.
Average Tax Rate
The proportion of total income that is paid as taxes, calculated by dividing the total taxes paid by the total income.
Alcohol Tax
A special tax imposed on alcoholic beverages to generate revenue and/or discourage excessive consumption owing to health or social reasons.
Compliance Costs
Expenses incurred by businesses or individuals to adhere to laws, regulations, and standards.
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