This page provides all possible meanings and translations of the word tax credit
Princeton's WordNetRate this definition:(0.00 / 0 votes)
a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
FreebaseRate this definition:(0.00 / 0 votes)
A tax credit is a sum deducted from the total amount a taxpayer owes to the state. A tax credit may be granted for various types of taxes, such as an income tax, property tax, or VAT. It may be granted in recognition of taxes already paid, as a subsidy, or to encourage investment or other behaviors. In some systems tax credits are 'refundable' to the extent they exceed the relevant tax. Tax systems may grant tax credits to businesses or individuals, and such grants vary by type of credit.
Find a translation for the tax credit definition in other languages: