Construction Management
5th Edition
ISBN: 9781119256809
Author: Daniel W. Halpin, Bolivar A. Senior, Gunnar Lucko
Publisher: WILEY
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Question
Chapter 6, Problem 1RQE
To determine
Explain marginal tax rate.
Expert Solution & Answer
Explanation of Solution
Explain the term marginal tax rate as follows:
The marginal tax rate is different from average tax rate. As average tax rate means the total tax paid as a percentage based on the total revenue earned. Marginal tax rate means the tax rate based on the final dollar of the revenue so the tax rate is not same for all the revenues. A person with higher revenue pays higher tax and the lower revenue one pays lesser tax.
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Chapter 6 Solutions
Construction Management
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