tax bracket

Definition

The level of income tax of a given individual, as indicated by the amount of taxes he/she pays on his/her final dollar of taxable income. also called marginal tax bracket or tax rate.

Use tax bracket in a sentence

You need to know what tax bracket you are in so that you know how much of your wages you will pay.

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The tax bracket had been the same for the individual his whole life until he started working at the new company.

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With the business being so profitable, the company was moved into a higher tax bracket, so the tax bill was higher than expected.

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