Examlex
What is geodemographic segmentation and what are PRIZM clusters?
Income Tax
A tax levied by governments on individuals or entities' income. The rate can vary based on the level of income earned.
Regressive
Describing a tax system in which the tax rate decreases as the taxable amount increases, often placing a higher burden on lower-income individuals.
Proportional
Relating to or denoting a relationship where quantities or sizes are in direct relation to each other.
Tax Tables
A set of charts provided by the IRS that help taxpayers determine the amount of federal income tax they owe based on their income level and filing status.
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