tax credit
noun
: an amount of money that is subtracted from taxes owed
Families with children in college will receive a tax credit this year.
Examples of tax credit in a Sentence
Recent Examples on the Web
Michael was likely referring to the Work Opportunity Tax Credit (WOTC), a federal tax credit given to employers who hire people from specific backgrounds.
—
Faisal Kutty, Newsweek, 11 Mar. 2025
To qualify for the tax credit, companies would have to exceed the previous year's spending on AI security R&D and research findings must be published to help the broader AI community.
—Maria Curi, Axios, 6 Mar. 2025
The electric vehicle tax credit underwent a big change in 2024.
—Camila Domonoske, NPR, 28 Feb. 2025
Wednesday’s announcement comes about four months after Gov. Gavin Newsom unveiled a proposal to more than double the amount of money allocated annually to the state’s film tax credit program.
—Samantha Masunaga, Los Angeles Times, 27 Feb. 2025
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Faisal Kutty, Newsweek, 11 Mar. 2025
To qualify for the tax credit, companies would have to exceed the previous year's spending on AI security R&D and research findings must be published to help the broader AI community.
—Maria Curi, Axios, 6 Mar. 2025
The electric vehicle tax credit underwent a big change in 2024.
—Camila Domonoske, NPR, 28 Feb. 2025
Wednesday’s announcement comes about four months after Gov. Gavin Newsom unveiled a proposal to more than double the amount of money allocated annually to the state’s film tax credit program.
—Samantha Masunaga, Los Angeles Times, 27 Feb. 2025
See All Example Sentences for tax credit
Cite this Entry
“Tax credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/tax%20credit. Accessed 25 Mar. 2025.
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