Definitions for tax credit
tax cred·it

Princeton's WordNetRate this definition:0.0 / 0 votes

1. tax creditnoun

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

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1. 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.

WikidataRate this definition:0.0 / 0 votes

1. 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

1. • Reduction

How to pronounce tax credit?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say tax credit in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of tax credit in Chaldean Numerology is: 2

2. Pythagorean Numerology

   The numerical value of tax credit in Pythagorean Numerology is: 5

Examples of tax credit in a Sentence

1. Randi Weingarten:

   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.

2. 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.

3. Jonathan Bydlak:

   This is why, for example, why many people are more supportive of the earned income tax credit despite the issues that exist there, because it ends up not being sort of tied in quite the same way to individual buckets of spending.

4. Joe Biden:

   Let’s provide investments and tax credits to weatherize your homes and businesses to be energy efficient and you get a tax credit.

5. Mark Sanford:

   From a conservative's perspective, there are a number of things that need further refinement, this notion of a refundable tax credit is a big deal, Medicaid expansion is a big deal, the Cadillac tax is a big deal.

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=tax credit
2. ^ ChatGPT
   https://chat.openai.com
3. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=tax credit