Tax & Budget
Glossaries
| Term | Definition |
|---|---|
| Excise Tax |
A tax directly levied on certain goods by a state, such as fuel, liquor, or cell phone plans. They are paid by the merchant before the goods can be...
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| Effective Tax Rate |
The share of income a family spends on taxes. This is calculated by dividing the amount families pay in taxes by their annual household income.
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