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Investment Tax Credit |
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Investment Tax Credit Proportion of new capital investment that could be used to reduce a company's tax bill (abolished in 1986). Investment Tax Credit 1. A tax credit on capital expenditures that was abolished in 1986. 2. A tax credit a business may receive for making adjustments to its building and other facilities to make them more energy efficient. Investment Tax Credit A provision under which tax credits are allowed for rehabilitating a building or investing in energy property for business purposes. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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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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