tax credit

(redirected from Credits Against Tax)
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  • noun

Words related to tax credit

a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)

References in periodicals archive ?
J's total credits against tax are $1,850 ($850 (nonrefundable) + $1,000 EIC).
Since 1988, credits against taxes payable have been used.
The Tax Expenditure Report also lists 123 property tax expenditures and 38 in other categories (credits against taxes on fuel, tobacco products, beer and wine, etc.), but I'm focusing on the income tax variety.
Subsidies can take many forms, such as direct cash payments, credits against taxes, and loans at terms that do not reflect market considerations.
Subsidies can take many forms, such as direct case payments, credits against taxes, and loans at terms that do not reflect market conditions.