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Assume the following sales data for a company: What is the percentage increase in sales from 2015 to 2016?
Flat Tax
A tax system with a constant tax rate applied to all levels of income, opposing progressive tax systems where rates increase with income.
Tax Burden
The measure of the total amount of taxes that an individual or business must pay, expressed as a percentage of income or profits.
Average Tax Rate
The proportion of the total tax paid to the total taxable income, calculated by dividing the total tax amount by the taxable income.
Marginal Tax Rate
The percentage of tax applied to your income for each tax bracket in which you qualify, essentially the rate at which your last dollar of income is taxed.
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