Examlex
To what extent have the laws relating to unconscionability undermined the certainty of commercial and consumer contracts?
Income Tax Schedule
A chart or formula used to determine the tax rate applied to various levels of income.
Progressive
Describes a taxation system where the tax rate increases as the taxable amount increases, aiming to distribute the tax burden more equitably.
Regressive
A term often used to describe taxes where the tax rate decreases as the taxable amount increases.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, representing the tax rate applied to each additional dollar of income.
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