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_________________is American author and professor of Biochemistry.
Marginal Tax Rate
The rate of tax applied to the next dollar of taxable income, indicating the percentage of any additional income that will be taken as tax.
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.
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