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.
References in periodicals archive ?
"Against the backdrop of these cases," the Institute said, "the Sixth Circuit was called upon to assess whether Ohio's manufacturing investment tax credit crossed the line.
Among the benefits available for investments in the EDZs are a wage tax credit ranging from $750 to $1,500 a year for five years for newly created jobs; utility rate reductions; low interest loans; a refund of state and possibly local sales taxes on purchases of building materials; investment tax credits of eight percent to 10 percent through refunds to corporate franchise tax and personal income taxes, depending on the investment; and employment incentive credits for three years, after the year of the initial investment tax credit, if additional people are employed.
If Congress and President Clinton consulted midsized businesses on tax policy, they would learn that restoring the investment tax credit (ITC) for new plant and equipment would benefit U.S.
Following Ohio's enactment of an investment tax credit to encourage economic development, DaimlerChrysler built a vehicle-assembly plant in Toledo, entitling the company to a credit against Ohio's corporate franchise tax.
The majority of the case law on classifying assets involves an investment tax credit (ITC).
When the Giuliani Plan was initially promulgated, I neglected to take into account the value of a potential investment tax credit for historic structures.
* The incremental investment tax credit will add complexity to the tax code while benefiting taxpayers only nominally.
Marciano also talked about the history of the investment tax credit and production tax creditboth of which are offered to help offset the costs of project financing.
The brief acknowledges the appropriate role of the Constitution's Commerce Clause in protecting out-of-taxpayers from discriminatory tax rules, but explains why state tax incentives such as Ohio's investment tax credit should withstand constitutional scrutiny.
In this case, the court concluded that certain properties in a building that qualify as tangible personal property under the former investment tax credit (ITC) rules may also qualify as tangible personal property for depreciation purposes.
* A direct rather than an incremental credit should be incorporated in the administration's investment tax credit proposal.

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