<Dd> $25, 000 × 30% − $3, 000 = $7, 500 − $3, 000 = $4, 500 . (\ displaystyle \ $25,000 \ times 30 \% - \ $3,000 = \ $7,500 - \ $3,000 = \ $4,500 .) </Dd> <P> Geometrically, the line for tax on the top bracket intercepts the y - axis at − $3,000--it passes through the point (0, − $3,000)--and has a slope of 0.3 (30%). </P> <P> In the United States, the first form was used through 2003, for example (for the 2003 15% Single bracket): </P> <Ul> <Li> If the amount on Form 1040, line 40 (Taxable Income), is: Over--7,000 </Li> <Li> But not over--28,400 </Li> <Li> Enter on Form 1040, line 41 (Tax) $700.00 + 15% </Li> <Li> of the amount over--7,000 </Li> </Ul>

Kinds of tax in india progressive or regressive