Definition of tax bracket in English:
A range of incomes taxed at a given rate.
- The basic idea is that you are not taxed on the funds until you withdraw, at which point you are taxed at the rate of your income tax bracket.
- From an economic point of view, only the marginal income is relevant, that is the income in the highest tax bracket.
- During World War II, policy makers pushed the income tax downward but also raised the top tax bracket, this time to 94%.
Definition of tax bracket in:
- British & World English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Australia
Most popular in Malaysia
Most popular in India