Nonrefundable Credit

Nonrefundable Credit

A credit that cannot exceed the taxpayer's tax liability.
References in periodicals archive ?
The California Competes Tax Credit (CCTC) is a nonrefundable credit for businesses that are looking to grow within California, whether they are already doing business here or relocating to the state.
Lifetime learning credit is a per-taxpayer, nonrefundable credit of up to $2,000 that applies only to expenses for tuition and fees.
Adoption credit--a nonrefundable credit allowed for qualified adoption expenses with a maximum credit of $12,970.
In his testimony, McCracken pointed to various problems with the tax credit, including its complexity, the fact that it is a temporary and nonrefundable credit and its exclusion of self-employed individuals.
Because of the difficult economic times, Congress was concerned that a nonrefundable credit might not create enough incentive for businesses to install alternative energy systems in the near term.
5) The nonrefundable credit must be reduced by the amount of the refundable credit.
Over the past four years, these companies moved into animation production, helped by BTVP, local incentives and a generous, partially nonrefundable credit line from government-owned bank BNDES.
In 2006, the refundable portion was increased front 10 percent to 15 percent of the nonrefundable credit (i.
The final Ohio RD tax incentive is the new nonrefundable credit against the commercial activity tax, found in ORC [section] 5751.
These initiatives range from Vermont's refundable credit (equal to a third of the federal amount) down to Maine's 5-percent nonrefundable credit.
On the other hand, evidence mitigating the sellers' blameworthiness included that (1) its practice of requiring a nonrefundable credit application fee to process a loan was not untenable; (2) almost no other applicants were required to put down deposits nearly as large as Watson's; and (3) the vast majority of the 2,000 applicants either went through with the purchase or were refunded their deposits on the financing company's rejection.