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Taxable Income
The portion of an individual or entity's income that is subject to taxation, after deductions and exemptions, according to the law.
Deductions
Expenses or specific amounts that can be subtracted from one's gross income to reduce the taxable income.
Rate Structure
The system or plan for pricing services, often used in reference to utilities like electricity, water, and telecommunications, outlining how rates vary based on usage levels or time of use.
Tax Base
The measure or value upon which a tax is levied.
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