tax credit

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Related to Tax credits: Child Tax Credits

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 ?
Income eligibility for the premium tax credits will be based on the previous year's income tax returns.
This platform creates significant value for both taxpayers looking to purchase tax credits and for those companies with tax credits to sell and monetize," says Tempus Managing Director Robert Lay, a seasoned industry veteran who has spent nearly the last decade in the tax credit industry with Stonehenge Capital Company.
For further advice on |claiming tax credits, contact your local CAB.
According to managing director William Hoffman, "Prior to establishing our Fund, the hardest telephone calls to answer were from developers, or their representatives, who had exceptional projects but just didn't have enough tax credits to attract mainstream institutional investors.
McPeak said the state will continue to work with East Valley community leaders to determine whether there are other ways that they can continue to receive tax credits.
Child tax credits are paid to parents directly, while working tax credits are paid to people with low incomes through their wage packets.
Common incentives include hiring credits; property tax breaks; sales and use tax credits; income tax credits or percentage reductions; research and development credits; and investment tax credits.
But Christine Kaszycki, Ontario's assistant deputy minister of mines and minerals, reassures junior miners and residents that the current provincial program for flow-through tax credits will continue in its present form.
Currently, 22 states offer tax credits based on machinery and equipment purchases that are similar to Ohio's investment tax credit.
Investment tax credits, along with an array of other tax incentives, are widely used by States to encourage growth in economically distressed areas, spur investment, increase jobs, and hence, enlarge the tax base.
So it was a pleasant surprise when Kate Taylor, a regular columnist for The Globe and Mail, hit the nail on the head with a piece she wrote back in February entitled "Film tax credits are starting to look like a mug's game.