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What is and what causes a concussion?
Tax Base
The Tax Base is the total amount of assets, income, or other taxable items upon which a government levies taxes.
Tax Liability
The total amount of tax owed by an individual or a corporate entity to tax authorities.
Tax Rate Structure
The way tax rates progress from low to high based on income brackets, affecting how much tax individuals or entities owe.
Progressive
Referring to a tax system in which the tax rate increases as the taxable amount increases.
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