Tax Bracket
/ˈtæks ˌbrækɪt/
Definitions
- (n.) A range of income levels taxed at a specific rate under a graduated tax system.
Individuals in a higher tax bracket pay a greater percentage of their income in taxes.
Forms
- tax brackets
Related terms
See also
Commentary
Tax brackets simplify progressive taxation by grouping incomes for rate application, crucial when drafting tax statutes to clarify rate thresholds.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.