Examlex
Which of the following is most likely to face extinction?
Average Tax Rate
The percentage of total income that is paid in taxes, indicating the proportion of an individual's income that is allocated towards taxes.
Taxable Income
The portion of an individual's or corporation's income that is subject to taxes by the government.
Tax Schedule
A chart or formula that outlines the rate of taxation applied to various levels of income or profits.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, reflecting the percentage of tax applied to your income for each tax bracket in which you qualify.
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