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LSDefine

Simple English definitions for legal terms

average tax rate

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A quick definition of average tax rate:

Average Tax Rate: The average amount of tax a person pays based on their taxable income. It is calculated by dividing the total tax paid by the taxable income. Another term for this is effective tax rate. Marginal tax rate is the rate applied to the last dollar earned and is used to calculate the tax effect of additional income or deductions. Tax rate is a mathematical figure expressed as a percentage used to calculate taxes.

A more thorough explanation:

Definition: Average tax rate is a mathematical figure expressed as a percentage that is used to calculate a tax. It is the taxpayer's tax liability divided by the amount of taxable income. It is also known as effective tax rate.

Examples:

  • If a taxpayer has a tax liability of $10,000 and a taxable income of $100,000, the average tax rate would be 10% ($10,000 ÷ $100,000).
  • Another example would be if a taxpayer has a tax liability of $5,000 and a taxable income of $50,000, the average tax rate would be 10% ($5,000 ÷ $50,000).

These examples illustrate how the average tax rate is calculated by dividing the tax liability by the taxable income. It is important to note that the average tax rate may vary depending on the taxpayer's income and tax bracket.

average gross sales | average variable cost

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i have a 160 is it even WORTH IT
16:42
yes
16:42
every point is worth it
kms
i think they want me to take the june one in this case
above their median for everything chat i'm ending it
I applied NYU on October 8th like r give up right?
16:46
wtf
16:47
i'd reach out to their admissions and check up on it
I did 2x and they said "The vast majority of candidates who have submitted their complete application by our deadline will be notified by the last day of April"
like kinda fucked
16:50
ugh that's so annoying
law schools that ghost should give you your money back
or reject
like man GIVE IT BACK!!!!
ClassyPleasantHeron
16:56
Schools explicitly asking applicants to retake the LSAT are TTTs pretending to be 2nd tier.
LMAOOO
like man oklahoma more like oklahowaboutyoueatmyshoe
me when that person on reddit said UofU wave and it's.... 3 people
help who just posted that right after I started bitching in chat
my heart fell straight into my ass mind u
and i just got a fucking app status tracker update... not for UofU... my BP is so spiked rn
QuarrelsomeTurkey
18:29
does anyone know if bu ever releases after 5 pm
Lol @jupitersmoons It feels like UofU is screwing with us haha
fr like I know it"s Mountain Time but bestie we have less than half an hour before typical EOD
what we doing
Real
19:17
new COAs are out
19:37
Anyone know how long it takes to get aid package after getting admitted to UChicago or Northwestern?
I’d ask in the t14 chat bc lol it may be a bit until you can get someone who can answer that question here
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