Asked by Scott Jordan on Jul 29, 2024
Verified
The average tax rate is the taxable income divided by the total tax liability.
Average Tax Rate
The ratio of total taxes paid to total taxable income, representing the percentage of income that goes towards taxes.
Taxable Income
The amount of an individual's or a company's income used to determine how much tax they owe to the government in a given tax year.
- Analyze and compare marginal versus average tax rates in assorted taxation structures.
Verified Answer
JF
Jacob FloreyJul 30, 2024
Final Answer :
False
Explanation :
The average tax rate is the total tax liability divided by the taxable income.
Learning Objectives
- Analyze and compare marginal versus average tax rates in assorted taxation structures.
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