Examlex
What is horizontal analysis?
Taxable Income
The portion of an individual's or entity's income used as the base for calculating income tax owed to the government.
Average Tax Rate
The ratio of the total amount of taxes paid to the total income, indicating how much of one's income goes to taxes.
Income Tax Schedule
A chart or table that displays tax rates applied to different levels of taxable income, used to calculate the amount of income tax owed.
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.
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