The tax rate needed to balance the budget will be ...
tax rate = (budget amount)/(tax base)
In millions*, this is
tax rate = 1.1/90 = 0.0122... ≈ 12.2/1000 = 12.2‰
In terms of mils, the tax rate is 12.2.
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* As long as numerator and denominator are both expressed in millions, the factor of 1 million cancels from numerator and denominator and the fraction is the same value it would be if we put in all those zeros.
