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Which is the best example of a question an IRB might ask
Tax-Exempt
Not subject to tax by federal or local governments, often applied to charitable organizations or certain financial earnings.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, reflecting the percentage of additional income that is paid in taxes.
Average Tax Rate
The ratio of the total amount of taxes paid to the total tax base (taxable income or spending), indicating the fraction of income or expenditure paid in taxes.
Payroll Taxes
Taxes imposed on employers and/or employees, and are based on the salary or wages of the employee.
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