tax credit

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Definitions from WordNet

Noun tax credit has 1 sense

tax credit - a direct reduction in tax liability (not dependent on the taxpayer's tax bracket)
--₁ is a kind of decrease, diminution, reduction, step-down

Definitions from the Web

Tax Credit

Definition: A tax credit is a financial incentive provided by the government that reduces the amount of tax owed by an individual or business.

Usage:

Individuals can claim a tax credit for purchasing energy-efficient appliances.
The company received a tax credit for hiring new employees from an economically disadvantaged area.

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