Abstract
ABSTRACT The federal, state, and local income tax rates can be combined into a single composite income tax rate. Such a composite tax rate significantly simplifies the consideration of income taxes in economic analyses. The composite tax rate can vary by as much as 6 percent from one state to another. Thus, managers should carefully consider the state and local income tax laws in their economic studies.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have