Examlex
Which of the following will help make a report clear and logical?
Tax
A mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
Marginal Tax Rate
The amount of tax paid on an additional dollar of income, which is typically a percentage that increases as income rises.
Horizontal Equity
The principle of tax fairness that states individuals with similar income and ability to pay should be taxed at the same rate.
Federal Income Tax
A tax levied by the federal government on the annual income of individuals, corporations, trusts, and other legal entities.
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