Question

Define marginal tax rate

Answer 1

ʜᴇʏ ᴍᴀᴛᴇ❗


ᴀ ᴍᴀʀɢɪɴᴀʟ ᴛᴀx ʀᴀᴛᴇ ɪs ᴛʜᴇ ᴛᴀx ʀᴀᴛᴇ ᴘᴇʀᴄᴇɴᴛᴀɢᴇ ᴏғ ᴛᴀx ᴀᴘᴘʟɪᴇᴅ ᴛᴏ ʏᴏᴜʀ ɪɴᴄᴏᴍᴇ ғᴏʀ ᴇᴀᴄʜ ᴛᴀx ʙʀᴀᴄᴋᴇᴛ ɪɴ ᴡʜɪᴄʜ ʏᴏᴜ ϙᴜᴀʟɪғʏ. ɪᴛ ɪɴᴄʟᴜᴅᴇs ғᴇᴅᴇʀᴀʟ, sᴛᴀᴛᴇ ᴀɴᴅ ʟᴏᴄᴀʟ ɪɴᴄᴏᴍᴇ ᴛᴀxᴇs, ᴀs ᴡᴇʟʟ ᴀs ғᴇᴅᴇʀᴀʟ ᴘᴀʏʀᴏʟʟ ᴀɴᴅ sᴇʟғ-ᴇᴍᴘʟᴏʏᴍᴇɴᴛ ᴛᴀxᴇs. 


✨ ʜᴏᴘᴇ ᴛʜɪs ʜᴇʟᴘs ʏᴏᴜ ✨

Answer 2

$\huge\mathfrak\red{Bonjour\:Mate}$

$\huge\boxed{Answer}$______✌✌

➡️The marginal tax rate is the percentage of tax applied to your income for each tax bracket in which you qualify. In essence, the marginal tax rate is the percentage taken from your next dollar of taxable income above a pre-defined income threshold.