Tax Credit - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/RBCp8wslqYg2QMIBJgDnViq

Label Tax Credit

Preferred Label N/A

Identifier N/A

Alternative Labels

None

Definition

A Tax Credit is a monetary amount that taxpayers can subtract directly from their tax liability, reducing the total amount of tax owed. It differs from a tax deduction in that it provides a dollar-for-dollar reduction in tax liability, rather than reducing taxable income.

Class Relationships

Sub Class Of

• Tax Incentive

Is Defined By

N/A

Class Hierarchy Visualization

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Additional Information

Metadata

Comment

None

Description

None

Notes

• None

Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available