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The Total Amount Of Tax That An Entity Is Legally Obligated To Pay To An Authority As The Result Of The Occurrence Of A Taxable Event. Tax Liability Can Be Calculated By Applying The Appropriate Tax Rate To The Taxable Event's Tax Base.

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1. The Total Amount Of Tax That An Entity Is Legally Obligated To Pay To An Authority As The Result Of The Occurrence Of A Taxable Event. Tax Liability Can Be Calculated By Applying The Appropriate Tax Rate To The Taxable Event's Tax Base.





 
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