Examlex
A university found it retained 25 students out of 352 in 2012 and 36 students out of 334 in 2013.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, representing the increase in tax payment for every additional dollar earned.
Taxable Income
The portion of an individual or entity's income upon which taxes are levied by the government, after all deductions and exemptions are factored in.
Average Tax Rate
The proportion of total income that is paid in taxes, calculated by dividing the total amount of taxes paid by the total income.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, indicating how much of any additional income will be paid in taxes.
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