What is a Dual Rate Income Tax
A dual rate income tax is an income tax rate structure in which two different tax rates are charged depending on income levels.
Breaking Down Dual Rate Income Tax
With dual rate income tax, all income will be taxed at the lower rate up to the cutoff income level, and all income above the cutoff point is taxed at the higher rate. This is similar to a flat tax structure but instead of just one rate, it has two.
