tax bracket

noun

Meaning

A specific range of income levels that determines the percentage of tax an individual or entity must pay to the government.

Examples

The government adjusted the tax bracket thresholds to account for inflation.
He is currently in the highest tax bracket due to his substantial annual earnings.

Synonyms: tax rate, tax band

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tax bracket

noun

Pronunciation: /tæks ˈbrækɪt/

Definition

A specific range of income levels that determines the percentage of tax an individual or entity must pay to the government.

Examples

The government adjusted the tax bracket thresholds to account for inflation.
He is currently in the highest tax bracket due to his substantial annual earnings.
Many people mistakenly believe that entering a new tax bracket means paying a higher rate on their entire income, rather than just the amount above the threshold.

Synonyms of tax bracket

Words with a similar meaning to tax bracket:

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