The percentage of additional income that will have to be paid in tax is an individual's _____.

Name: The percentage of additional income that will have to be paid in tax is an individual's _____.
Brand: Quizplus
Rating: 4.9 (46 reviews)

Question

Quizplus · Accepted Answer

The marginal tax rate is the percentage of tax that an individual has to pay on their additional income. It is different from the average tax rate, which is the total tax paid as a percentage of total income. Proportional and flat tax rates are not applicable as they are fixed rates on all income levels.

The Percentage of Additional Income That Will Have to Be