Model or Uniform Laws Are a Source of Law That

question 40

True/False

Model or uniform laws are a source of law that are binding on courts.

---

Definitions:

Federal Income Tax

Tax levied by the national government on the annual income of individuals, corporations, trusts, and other legal entities.

Income Distribution

How a nation's total GDP is distributed amongst its population, often used to analyze economic inequality.

Tax Deductible Donation

A charitable contribution that can be subtracted from one's gross income, lowering the taxable income and thus reducing the tax liability.

Marginal Tax Rate

The marginal tax rate is the percentage of tax applied to your income for each tax bracket in which you qualify, essentially the rate paid on the last dollar of income.