Examlex
A water gap is ___________ .
Average Tax Rate
The proportion of total income that is paid in taxes, calculated by dividing the total tax paid by the taxpayer’s total income.
Taxable Income
The portion of an individual's or organization's income used to calculate how much tax will be owed to the government.
Federal Government
The national government of a federated state, which holds the authority to govern the country at a national or federal level, distinct from regional or local governments.
Government Dollar
Currency issued by a country's government, representing the medium of exchange accepted for transactions and as payment for debts.
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