Tax rate

Tax rate is the percentage used to calculate tax due on a taxable entity.

Expanded Definition

The tax rates of interest to individuals include--

• Sales tax: percentage of sales dollars.
• Property tax: dollars per $100 or $1000 of assessed value.
• Federal Income tax:
  • AGI income--the percentage from Table X,Y, Z in the Instructions for Form 1040 or Your Income Tax
  • Qualified dividends/Capital gains--the percentage determined in the worksheet on page 35 of the Instructions for Form 1040.
• State and local income tax: varies.
• Estate tax varies. It is levied on the death of individuals with large estates.
• Gift tax applies to large transfers of wealth between people.

Related Fool Articles

• Bypassing High Estate Tax

Related Terms

• Assessed value
• Average tax rate
• Form 1040
• Income tax
• Marginal tax rate
• Property tax
• Sales tax
• Your Income Tax

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