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
Enacted by former President Donald Trump, the Tax Cuts and Jobs Act of 2017, or TCJA, brought sweeping changes for individuals, including lower tax brackets, higher standard deductions, a more generous child tax credit and a bigger estate and gift tax exemption, among others.
—
Kate Dore, Cfp®, CNBC, 5 Nov. 2024
One provision promises up to $25,000 in down-payment support and a $10,000 tax credit for first-time home buyers.
—Samantha Delouya, CNN, 2 Nov. 2024
One thing that could come up are changes to oversight of the film tax credit, Illinois Film Office Deputy Director Peter Hawley told the Joint Committee on Administrative Rules.
—Greg Bishop | The Center Square, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 1 Nov. 2024
Harris would also restore the American Rescue Plan’s expansion of the child tax credit to as much as $3,600, up from $2,000.
—Nik Popli, TIME, 23 Oct. 2024
See all Example Sentences for tax credit 
Examples are automatically compiled from online sources to
show current usage.
Read More
Opinions expressed in the examples do not represent those of Merriam-Webster or its editors.
Send us feedback.
Kate Dore, Cfp®, CNBC, 5 Nov. 2024
One provision promises up to $25,000 in down-payment support and a $10,000 tax credit for first-time home buyers.
—Samantha Delouya, CNN, 2 Nov. 2024
One thing that could come up are changes to oversight of the film tax credit, Illinois Film Office Deputy Director Peter Hawley told the Joint Committee on Administrative Rules.
—Greg Bishop | The Center Square, Washington Examiner - Political News and Conservative Analysis About Congress, the President, and the Federal Government, 1 Nov. 2024
Harris would also restore the American Rescue Plan’s expansion of the child tax credit to as much as $3,600, up from $2,000.
—Nik Popli, TIME, 23 Oct. 2024
See all Example Sentences for tax credit
Dictionary Entries Near tax credit
Cite this Entry
“Tax credit.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/tax%20credit. Accessed 21 Nov. 2024.
Copy CitationLove words? Need even more definitions?
Merriam-Webster unabridged
Share