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Learn fundamental concepts before referring on the tax rate to avoid confusion and potential errors in your computation. The very first idea you need to find out is the taxable income. Obtain the result of the income for that year without the presence of allowable deductions, exemptions, and adjustments figure out your taxable income. Based upon the resulting taxable income, you should certainly find the applicable income level and also the corresponding income tax bracket. The rate on your tax is presented in percentage mode.
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