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:
“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)
“Today everything is different. I can’t even get decent food. Right after I got here I ordered some spaghetti with marinara sauce and I got egg noodles and catsup. I’m an average nobody, I get to live the rest of my life like a schnook.”
—Nicholas Pileggi, U.S. screenwriter, and Martin Scorsese. Henry Hill (Ray Liotta)
“You preferred it to the usual thing:
One dull man, dulling and uxorious,
One average mind—with one thought less, each year.”
—Ezra Pound (1885–1972)