tax credit Definition

tax credit

Definition

The direct dollar-for-dollar reduction of an individual's tax liability; compare with tax deduction, which reduces an individual's tax liability only in proportion to his/her tax bracket.

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tax credit is ...
... part of the Taxes subject.

Related Terms

credit - More

enterprise zone -

Unified Tax Credit -

earned income tax credit, education credit, Hope credit, adoption credit, child and dependent care credit, lifetime learning credit, franked dividend, foreign tax credit, 1031 tax-free exchange, Energy Tax Incentives Act of 2005

tax credit appears in the definitions of these other terms on BusinessDictionary.com

net tax liability, value recovery provision, tax break

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