tax credit

An amount subtracted directly from one’s total tax liability, dollar for dollar, as opposed to a deduction from gross income. — Often shortened to credit. Cf. DEDUCTION(2). [Cases: Internal Revenue 3520–3537; Taxation 1047. C.J.S. Internal Revenue §§ 58, 336–357, 489–492; Taxation § 1758.]

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词条贡献者

译员张宏，知名法学院法律翻译专业，专注翻译各种与调查与白领犯罪辩护有关的法律文件。