Average
An average tax rate is the ratio of the amount of taxes paid to the tax base (taxable income or spending).
- To calculate the average tax rate on an income tax, divide total tax liability by taxable income:
- Let be the average tax rate.
- Let be the tax liability.
- Let be the taxable income.
Read more about this topic: Tax Rate
Famous quotes containing the word average:
“Public opinion, a vulgar, impertinent, anonymous tyrant who deliberately makes life unpleasant for anyone who is not content to be the average man.”
—W.R. (William Ralph)
“That’s one thing I like about Hollywood. The writer is there revealed in his ultimate corruption. He asks no praise, because his praise comes to him in the form of a salary check. In Hollywood the average writer is not young, not honest, not brave, and a bit overdressed. But he is darn good company, which book writers as a rule are not. He is better than what he writes. Most book writers are not as good.”
—Raymond Chandler (1888–1959)
“Always remember that a child doesn’t have to be average to be normal. Children with very different temperaments can be equally successful.”
—Lawrence Kutner (20th century)