Examlex
Explain what is meant by a collateral contract.
Tax Collections
The process of gathering taxes by government authorities from individuals and businesses.
Taxable Income
The portion of an individual's or corporation's income that is subject to taxation by governmental authorities.
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.
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