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Learn important concepts before referring towards tax rate to avoid confusion and potential errors in your computation. The very first thing you must find out is your taxable income. Get the result of the income for the year without worrying about allowable deductions, exemptions, and adjustments come across your taxable income. Based over a resulting taxable income, you should certainly find the applicable income level along with the corresponding tax bracket. The rate on your tax is presented in percentage guise.

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