Glaucoma is a group of eye diseases which result in damage to the optic nerve and vision loss. The most common type is open-angle glaucoma with less common types including closed-angle glaucoma and normal-tension glaucoma. Open-angle glaucoma develops slowly over time and there is no pain.
effective income tax rate. Definition. The actual rate at which a taxpayer pays taxes on income accounting for all taxes and offsets. The rate is calculated by dividing the total of all taxes paid, less offsets, by the total taxable income. The effective rate is typically lower than the tax bracket, which is currently based on a progressive rate scale. For example, a person in the 28% tax bracket who paid a total of state and federal taxes of $13,000 on $100,000 of taxable income has an effective tax rate of 13%.
The marginal tax rate is the tax that applies to the next increment of income or deduction. The average tax rate represents a taxpayer's average level of taxation on each dollar of taxable income. The effective tax rate represents the taxpayer's average rate of taxation on each dollar of total income (taxable and nontaxable income).