Examlex
When does transition occur?
Payroll Tax
Levies applied to employers or employees, most often calculated as a portion of the wages that employers disburse to their personnel.
Regressive
A term often used in taxation to describe a situation where the tax rate decreases as the taxable amount increases, placing a higher relative burden on lower earners.
Top Income Levels
Refers to the highest segment of earners in an economic distribution, often associated with a significant proportion of the total income of a society.
Progressive
Pertaining to a form of taxation in which the tax rate increases as the taxable amount increases, typically applied to income tax.
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