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The Combining Form Ili/o- Means

question 621

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The combining form ili/o- means:


Definitions:

Marginal Tax Rate

The rate at which the next dollar of taxable income is taxed.

Taxable Income

The amount of an individual's or entity's income used as the basis for calculating how much tax they owe to the government, after deductions and exemptions.

Marginal Tax Rate

The rate at which the last dollar of income is taxed, indicating the percentage of tax applied to your income for each tax bracket in which you qualify.

Total Tax Rate

The comprehensive rate at which income is taxed, combining the effects of both federal and state rates, and possibly other levies.

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