Tax Rate
/ˈtæks reɪt/
Definitions
- (n.) The percentage at which an individual or corporation is taxed on income, property, sales, or other taxable items according to law.
The government increased the corporate tax rate to fund public infrastructure projects.
Forms
- tax rates
Related terms
See also
Commentary
The tax rate is commonly expressed as a percentage and varies according to jurisdiction and tax type; it is crucial in tax law to distinguish between statutory and effective tax rates.
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.