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Radio quiz shows and comedy shows were most popular in the ________.
Simplified Tax Formula
A streamlined method for calculating taxable income, starting with adjusted gross income, subtracting either standard or itemized deductions, and personal exemptions.
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (taxable income or expenditure), revealing the percentage of income paid in taxes.
Tax Liability
The total amount of tax owed to the government by an individual, corporation, or other entity in a given tax period.
Taxable Income
The amount of income that is used to calculate an individual or a corporation's income tax due, after all deductions and exemptions.
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