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Investment Tax Credit
(redirected from investment credit)

   Also found in: Encyclopedia 0.01 sec.
Investment Tax Credit
Proportion of new capital investment that could be used to reduce a company's tax bill (abolished in 1986).

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The taxpayer countered that since the partnerships had been allowed to keep the investment credit and he had to pay tax on some income, there was the requisite profit motive.
In fact, over 80% of the states have some form of investment credit for new investments in property or labor.
In California, for example, placing qualifying property into service after January 1, 1994, yielded a manufacturer's investment credit for many taxpayers.
 
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