What does tax credit mean?
Definitions for tax credit
tax cred·it
This dictionary definitions page includes all the possible meanings, example usage and translations of the word tax credit.
Princeton's WordNet
tax creditnoun
a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
ChatGPT
tax credit
A tax credit is a type of tax incentive provided by governments to either individuals or businesses, which it subtracts directly from the amount of tax owed. This decreases the total amount of money a taxpayer owes to the government, thus effectively reducing their total tax liability. Different types of tax credits can be applied for various purposes, such as for education expenses, energy-efficient home improvements, or for providing care to dependent children or elderly family members.
Wikidata
Tax credit
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.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of tax credit in Chaldean Numerology is: 2
Pythagorean Numerology
The numerical value of tax credit in Pythagorean Numerology is: 5
Examples of tax credit in a Sentence
The child tax credit demonstrates that the Democratic Party has returned to the roots of FDR, that we are re-establishing ourselves as the party of families and children.
American Enterprise Institute.Jason Furman:
The tax credit's relatively small compared to the economy as a whole, if you want to call the checks a tax policy, yes I think that did contribute to inflation.
The bottom line is if you have not already received the child tax credit, it's not too late.
Let’s provide investments and tax credits to weatherize your homes and businesses to be energy efficient and you get a tax credit.
Theyve given a tax cut to rich people by basically saying that anybody is going to get a tax credit who wants to spendmoney for any kind of private schools but they have defunded and emasculated public education.
Translations for tax credit
From our Multilingual Translation Dictionary
- crédito fiscalSpanish
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"tax credit." Definitions.net. STANDS4 LLC, 2024. Web. 14 May 2024. <https://www.definitions.net/definition/tax+credit>.
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