Examlex
Complete the following reaction by filling in the appropriate reagents.
Average Tax Rate
The proportion of total income that is paid as tax, calculated by dividing the total amount of tax paid by the total income.
Income Tax Liability
The total amount of income tax that an individual or corporation owes to the government, based on their taxable income.
Marginal Tax Rate
The rate at which the last dollar of income is taxed, representing the tax burden on the next dollar of income.
Income Tax Liability
The total amount of income tax that an individual or business owes to the government based on their taxable income.
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