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Question 80 - CTFA discussion
Average tax rate:
A.
Is the rate at which each dollar of taxable income is taxed on average; calculated by dividing the tax liability by taxable income
B.
Is the rate at which each dollar of taxable income is taxed annually; calculated by dividing the tax liability by taxable income.
C.
Is the rate at which each dollar of taxable income is taxed on average; calculated by dividing the tax liability by non-taxable income
D.
Is the rate at which each dollar of taxable income is taxed on average; calculated by dividing the tax liability by expenses
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