The tax rate that determines the amount of tax that will be due on the next dollar of taxable income earned is called the:
A)average tax rate.
B)variable tax rate.
C)marginal tax rate.
D)fixed tax rate.
E)ordinary tax rate.

Question

Quizplus · Accepted Answer

The marginal tax rate is the rate at which the next dollar of taxable income will be taxed, reflecting the tax rate applicable to the last dollar earned.

The Tax Rate That Determines the Amount of Tax That