negative tax


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negative tax

n
(Economics) a payment by the State to a person with a low income, the magnitude of the payment increasing as the income decreases. It is regarded as a form of social welfare. Also called: negative income tax
References in periodicals archive ?
The bill was created to help make 529 plans more flexible by adding computers as a higher education expense; along with the redeposit of college funds without incurring negative tax implications on the account contributor.
Furthermore, the election to include the income on the parents' return may have negative tax consequences.
Additionally, partners can have negative tax capital accounts as a result of receiving depreciation deductions and cash distributions over the years.
The 2014 non-GP effective tax rate was 25 percent compared with a negative tax rate in the second quarter of 2013.
8% YoY, which shows that the economy has mostly absorbed the negative tax shock.
On the other end of the scale, those on incapacity benefit, housing or jobseeker's allowance could be placed on a benefit called the negative tax rebate.
As a result, 47 percent of households either pay nothing or qualify for refunds resulting in a negative tax liability - that is, they get back from the government more than is withheld in taxes.
Massachusetts ranks 34th among the 50 states for its overall tax exposure, with New Jersey at the top of the list with the most negative tax climate, he said.
Following the trial, the district court granted the plaintiff's post-trial motion to augment the jury's award to offset the negative tax consequences that she would incur from receiving the lump-sum back pay award.
Much as we'd all like to freeze development and traffic, the negative tax impact on us must also be considered.
Further, if the property distributed is a partnership interest and the estate or trust has a negative tax capital account (this occurs when the liabilities of the partnership allocable to the interest exceed the estate or trust's share of the partnership basis of its assets), then a gain will be recognized equal to the negative capital as a result of the requirement of Sec.
These tax credits work like a negative tax that reduces firms' costs of doing R&D.