tax credit

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tax credit

n
(Social Welfare) (in Britain) a social security benefit paid in the form of an additional income tax allowance
ThesaurusAntonymsRelated WordsSynonymsLegend:
Noun1.tax credit - a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
reduction, step-down, diminution, decrease - the act of decreasing or reducing something
References in periodicals archive ?
Morton, who has several years experience in entertainment law specializing in production financing for independent producers, will oversee the refundable tax credit that is available to eligible Ontario based production companies, based upon qualifying Ontario labour costs.
The contract proposes a $500 refundable tax credit for each "qualifying child" under age 18.
We must also ensure that low-income individuals have access to health care coverage either through Medicaid or a refundable tax credit that enables them to buy their own health insurance policy.
5% refundable tax credit, which is on top of Canada's federal incentive, makes it that much more appealing.
A refundable tax credit is treated as a payment from the taxpayer, such as federal income tax withheld or quarterly estimated taxes paid.
Based on the capital investment and the number of employees being hired by the company, the Governor's Office of Economic Development Board authorized a post-performance refundable tax credit up to $316,275 over 10 years.
calls for, among other things, a new 800 refundable tax credit for children, an expansion of the earned income tax credit, an increase in the top income tax rate to 35% and an 11 % surtax on upper income taxpayers.
But appealing locations aside, producers also come to the Bluegrass State for its 30%-35% refundable tax credit.
In an attempt to maintain and extend the functional equivalent of Medicaid during these very tight budget times, states could utilize an enhanced federal refundable tax credit from the policy toolbox, using additional federal funds to create purchasing alliances or pools, he said.
The administration's proposal would provide a 5% refundable tax credit for the first $10,500 earned by individuals working in a zone and having total wages below $20,000.