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Income Tax Obligation
The amount of money a person or entity is legally required to pay to the government based on their taxable income.
Historical Tax Rates
Past tax rates that have been applied to individuals or corporations, which can indicate trends and policy changes.
Deferred Tax Liability
A tax obligation that a company owes in the future due to timing differences between its taxable income and its accounting income.
Accelerated Depreciation
A method of depreciation that allows a business to write off the cost of an asset more quickly in the early years of its useful life.
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