Examlex
A student studying informatics in nursing understands which of the following terms? (Select all that apply.)
Average Tax Rate
The proportion of total income paid in taxes, calculated by dividing the total tax amount by the taxpayer's total income.
Taxable Income
The amount of an individual's or business's income used to calculate how much tax they owe to the government in a given year.
Total Tax
The annual sum of all taxes owed by an individual or corporation, including federal, state, and local taxes, regardless of deduction or credit eligibility.
Taxable Income
The amount of income that is subject to income tax after deductions and exemptions.
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