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Learn important concepts before referring into the tax rate to avoid confusion and potential errors in your computation. Initially you must find out is the taxable income. Get the result of one’s income for your year devoid of the allowable deductions, exemptions, and adjustments decide your taxable income. Based on the resulting taxable income, you will be able to find the applicable income level and also the corresponding tax bracket. The rate on your tax is presented in percentage guise.
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