Examlex
Which of the following is a drawback of becoming a small business owner by buying a franchise?
Exemptions
Specific allowances that relieve individuals, organizations, or products from fulfilling certain conditions or requirements, often for taxes or regulations.
Personal Income Tax
A tax levied on individuals or households based on their total income from various sources, including wages, salaries, and investments.
Taxable Income
The portion of an individual's or corporation’s income that is subject to taxes according to the laws and regulations of a particular jurisdiction.
Total Tax
The complete amount of tax owed by an individual or entity to the government within a specified period.
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