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	Tax credit - Wikipedia, the free encyclopedia
		Tax credits may be characterized as either refundable or non-refundable, or equivalently non-wastable or wastable.
		Refundable or non-wastable tax credits can reduce the tax owed below zero, and result in a net payment to the taxpayer beyond their own payments into the tax system, appearing to be a moderate form of negative income tax.
		Some examples of non-refundable tax credits are the Hope and Lifetime Learning educational tax credits in the US or the former children's tax credit in the UK.
	en.wikipedia.org /wiki/Tax_credit (532 words)

	Department of Energy - Tax Breaks
		A tax credit is generally more valuable than an equivalent tax deduction because a tax credit reduces tax dollar-for-dollar, while a deduction only removes a percentage of the tax that is owed.
		Beginning in tax year 2006, consumers will be able to itemize purchases on their federal income tax form, which will lower the total amount of tax they owe the government.
		This tax credit is for vehicles “placed in service” beginning January 1, 2006, but because there is a waiting list for many hybrids, consumers can receive the tax credit if they arrange to purchase the vehicle this year as long as they do not take possession of the vehicle until January 1, 2006.
	www.energy.gov /taxbreaks.htm (1050 words)

	Federal Tax Credits for Energy Efficiency : ENERGY STAR
		Tax credits are available for many types of home improvements including adding insulation, replacement windows, and certain high efficiency heating and cooling equipment.
		The maximum amount of homeowner credit for all improvements combined is $500 during the two year period of the tax credit.
		These tax credits apply to new homes located in the United States whose construction is substantially completed after August 8, 2005 and that are acquired from the eligible contractor after December 31, 2005 and before January 1, 2008, for use as a residence.
	www.energystar.gov /index.cfm?c=products.pr_tax_credits (1893 words)

	Low-Income Housing Tax Credit
		By providing a credit against tax liability or a dollar-for-dollar reduction in the amount of liability, the LIHTC is an incentive for individuals and corporations to invest in the construction or rehabilitation of housing for low-income families.
		Credits awarded to these projects are not subject to the per capita limit; however, the underlying bonds are subject to the state private activity bond cap.
		Tax credit applications undergo a rigorous evaluation; typically, they are awarded points for criteria outlined in the state's allocation plan.
	www.nahro.org /home/resource/credit.html (1157 words)

	SDAT: Homeowners Tax Credit Program
		The dwelling on which you are seeking the tax credit must be your principal residence where you live at least six months of the year, including July 1, unless you are a recent home purchaser or unless you are unable to do so because of your health or need of special care.
		The tax credit is based upon the amount by which the property taxes exceed a percentage of your income according to the following formula: 0% of the first $8,000 of the combined household income; 4% of the next $4,000 of income; 6.5% of the next $4,000 of income; and 9% of all income above $16,000.
		Persons filing for the Homeowners' Tax Credit Program are required to submit copies of their prior year's federal income tax returns and to provide the Department with permission to verify the amount of income reported with other State and Federal agencies.
	www.dat.state.md.us /sdatweb/htc.html (1317 words)

	NACAC \| Public Policy (Site not responding. Last check: 2007-11-03)
		For tax year 2005, the tax credit is $10,630 and you have this year and up to the next five years in which to use it.
		Now, with the adoption tax credit, they have $20,780 in credits, and this year they could use up to $7,000 of the credit.1 This will mean they get a refund this year of $6,500, and will have at least $13,780 of tax credit to carryover for up to four years.
		The two most likely reasons a family would claim it is if their tax liability varies greatly from year to year, or if the children already in their household are near adulthood and may no longer be claimed as dependents (or take the child tax credit) in the next five years.
	www.nacac.org /pub_taxcredit.html (1162 words)

	TPS Tax Incentives
		Generally, the tax credit is claimed on IRS form 3468 for the tax year in which the rehabilitated building is placed in service.
		The tax credit must be claimed on IRS form 3468 for the tax year in which the rehabilitated building is placed in service.
		Nonrefundable credits, such as the rehabilitation tax credit, may not be used to reduce the alternative minimum tax.
	www.cr.nps.gov /hps/tps/tax/brochure1.htm (4902 words)

	Tax Topics - Topic 607 Adoption Credit
		Although the credit generally is allowed for the year following the year in which the expenses are paid, a taxpayer who paid qualifying expenses in the current year for an adoption which became final in the current year, may be eligible to claim the credit on the current year return.
		For both the credit or the exclusion, qualifying expenses include reasonable and necessary adoption fees, court costs, attorney fees, traveling expenses (including amounts spent for meals and lodging while away from home), and other expenses directly related to and for which the principal purpose is the legal adoption of an eligible child.
		The adoption credit or exclusion cannot be taken for a child who is not a United States citizen or resident unless the adoption becomes final.
	www.irs.gov /taxtopics/tc607.html (580 words)

	Historic Restoration and Rehabilitation Tax Credit - City of Baltimore, Maryland
		The credit for projects with construction costs less than $3.5 million is 100%, and for projects with construction costs more than $3.5 million is 80% in the first five taxable years and declines by ten percentage points thereafter.
		Credit is fully transferrable to a new owner for the remaining life of the credit.
		Since the historic tax credit is transferable, a new owner may save as much as $28,000 in property taxes over the life of the credit.
	www.ci.baltimore.md.us /government/historic/taxcredit.html (760 words)

	Taxes: Credit - Child tax credit
		Tax law changes in the last few years have made the child tax credit even more appealing.
		Tax law changes also make this credit partially refundable for lower-income filers with just one or two children, meaning a portion of it can be claimed even if they owe no taxes.
		The credit begins phasing out if you make $110,000 and married, filing jointly; earn $75,000 and file as head of household, single or qualifying widow or widower; or make $55,000 and are a married-filing-separately taxpayer.
	www.bankrate.com /yho/itax/Edit/basics/Tax_credits/basic_3a.asp (500 words)

	Tax tip: Uncle Sam can help pay some adoption costs
		Tax laws keep changing, but don't be the last to know about them.
		In addition to the tax credit, adoptive parents who get financial help from their companies may be able to avoid paying tax on up to $10,960 of that employee benefit.
		You may claim this income exclusion along with the tax credit for the same adoption, basically doubling your adoption tax break.
	www.bankrate.com /brm/itax/tips/20010314a.asp (866 words)

	Alliance to Save Energy - Promoting Energy Efficiency World Wide: News: New Energy-Efficiency Home and Vehicle Tax ...
		Details on the tax credits for hybrid vehicles and for home improvements are located in Section 3 and Section 4 of this document.
		The hybrid and diesel tax credits expire for all cars and light trucks on December 31, 2010, whether or not the manufacturer has sold 60,000 vehicles or reached the end of the phase-out period.
		The new tax credit for hybrid vehicles is available only for vehicles placed in service starting January 1, 2006, but buyers who purchased hybrids before that date are eligible for an older tax deduction.
	www.ase.org /taxcredits (2362 words)

	Urban Legends Reference Pages: 2006 Federal Excise Tax Credit
		It is an old tax that was assessed on your toll calls based on how far the call was being made and how much time you talked on that call.
		The tax was levied against charges accruing to long distance calls, which until recently were primarily determined by a formula based on call length and the distance between conversing parties.
		This is a one-time tax credit, so those who fail to file for it on their 2006 returns will likely lose their shot at claiming it.
	www.snopes.com /business/taxes/excise.asp (1107 words)

	Tempe Union High School District (Site not responding. Last check: 2007-11-03)
		A tax credit is a dollar-for-dollar reduction in the actual tax owed.
		The new law allows a tax credit, which is subtracted from the amount of taxes you owe.
		The credit is limited to $200 per individual tax return and $400 if the credit is claimed on a tax return of a married couple.
	www.tuhsd.k12.az.us /parent/tax_credit.htm (536 words)

	Tax Credit Donations
		The Tax Credit reduces your tax burden to the state of Arizona, dollar for dollar.
		A state tax credit will allow you to reduce the amount of your tax liability to the state or increase your refund from the state.
		You may donate less than $400 and be eligible to receive the state tax credit in the amount of your donation.
	www.dvusd.org /pages_index/tax_credit.htm (291 words)

	Working tax credit - Wikipedia, the free encyclopedia
		Working tax credit, or WTC, is a component of the current tax credits system in the United Kingdom - the related component being the Child tax credit, or CTC - which have both been in their current form since April 2003.
		Tax credit components are thus designed to form an integrated, seamless allowance that is steadily reduced as family income rises.
		Tax credits (both WTC and CTC) for the current year will need to be paid on the previous tax year's gross household income as an interim award, as only this information will be available at the time of application or renewal.
	en.wikipedia.org /wiki/Working_tax_credit (1354 words)

	Child Tax Credit
		The Child Tax Credit is a federal tax credit for families with children under age 17.
		The Child Tax Credit is available to families with qualifying children under age 17 at the end of 2005.
		The instructions for determining eligibility, and the amount of the credit, are found in the instruction booklets accompanying the tax forms.
	www.uwex.edu /ces/econ/child_credit.html (718 words)

	Tax Credit Programs Wisconsin
		In the past when the tax credit programs lapsed and Congress subsequently reauthorized the program, legislative provisions allowed for retroactive certification of eligibility for the period between the expiration date and the reauthorization date.
		The Work Opportunity Tax Credit (WOTC) is a federal income tax credit that provides an incentive for private for profit employers to hire individuals of certain target groups, which have traditionally faced significant barriers to employment.
		The Welfare to Work Tax Credit (W+W) is a federal income tax credit that can save private for profit employers up to $8,500 per new hire over a two-year period.
	www.dwd.state.wi.us /dws/bjs/taxcredit/default.htm (597 words)

	Archived - The HOPE Scholarship and Lifetime Learning Credits
		For students in the first two years of college (or other eligible post-secondary training), taxpayers will be eligible for a tax credit equal to 100% of the first $1,000 of tuition and fees and 50% of the second $1,000 (the amounts are indexed for inflation after 2001).
		The credit is phased out for joint filers between $80,000 and $100,000 of income, and for single filers between $40,000 and $50,000 (indexed after 2001).
		The credit can be claimed in two taxable years (but not beyond the year when the student completes the first two years of college) with respect to any individual enrolled on at least a half-time basis for any portion of the year.
	www.ed.gov /offices/OPE/PPI/HOPE/index.html (904 words)

	New Energy Tax Credit for Hybrids (Site not responding. Last check: 2007-11-03)
		Credit amounts begin to phase out for a given manufacturer once it has sold over 60,000 eligible vehicles.
		The vehicle is acquired for use or lease by the taxpayer, and not for resale.
		Hybrids purchased before 2006 are not eligible for the new tax credit, but it may be eligible for a hybrid vehicle tax deduction of up to $2,000.
	www.fueleconomy.gov /feg/tax_hybrid.shtml (659 words)

	College Tuition - education tax credits - hope tax credit, lifetime learning
		Hope and Lifetime are tax credits which allow you to subtract, on a dollar-for-dollar basis, the amount of the credit from your total federal income tax bill.
		This tax credit applies to tuition and fee expenses for the first two years of post-secondary education.
		This credit is available for all years of postsecondary education and for courses (even a single course) to acquire or improve job skills.
	www.collegeboard.com /student/pay/ways-to-pay/446.html (600 words)

	Homestead Tax Credit
		Filing Responsibility: It is the responsibility of each owner/claimant to file a homestead tax credit with the city or county assessor on or before July 1 of the year the owner/claimant is first claiming the credit.
		Example: to sign up for the tax credit to take effect for the 2007 tax year, homesteads need to be filed on or before July 1, 2007.
		Example: to sign up for the tax credit to take effect for the 2006 tax year, applications need to be filed on or before July 1, 2006.
	www.city.ames.ia.us /assessorweb/assessorpages/homestead_tax_credit.htm (594 words)

	Arizona School Tax Credit program (Site not responding. Last check: 2007-11-03)
		Arizona tax law (ARS 43-1089.01) allows taxpayers a credit for contributions made or fees paid to a public school for support of extracurricular activities or character education (as defined in ARS 15-719).
		The credit is equal to the amount contributed or the amount of fees paid.
		This tax credit is available to all Arizona individual taxpayers regardless of whether or not they have children in school.
	epage.pvusd.k12.az.us /siteweb/taxCreditInfo.htm (860 words)

	Publication 972 (2006), Child Tax Credit
		It is in addition to the credit for child and dependent care expenses (on Form 1040, line 48; Form 1040A, line 29; or Form 1040NR, line 45) and the earned income credit (on Form 1040, line 66a; or Form 1040A, line 40a).
		For purposes of the child tax credit, your modified AGI is your AGI plus the following amounts that may apply to you.
		This credit is for certain individuals who get less than the full amount of the child tax credit.
	www.irs.gov /publications/p972/ar02.html (3906 words)

	Montana State University Foundation
		The credit may not exceed the taxpayer's Montana income tax liability and is limited to a percent of the value of the charitable gift.
		The maximum credit a shareholder of a small business corporation, a partner, member, or manager may claim in a year is the lesser of Montana income tax liability and $10,000, limited to 20% of the gift value.
		Any credit not used by the estate may be passed through to the beneficiaries in the same proportion as each distributive share or income or loss for Montana income tax purposes.
	www.montana.edu /foundation/montana_tax_credit.htm (576 words)

	RESNET - IRS Releases Rules for Tax Credits
		Click on Energy Efficient Home for the IRS tax form (Form 8908) to down load the form to calculate the tax credit for energy efficient homes.
		Taxpayers are allowed one credit equal to 30 percent of the qualified investment in a solar panel up to a maximum credit of $2,000, and another equivalent credit for investing in a solar water heating system.
		New construction in an existing building is also eligible for the tax deduction, with one third of the deduction amount for new construction that affects the new energy-using system (such as lighting or heating, cooling and water heating).
	www.natresnet.org /taxcredits/default.htm (1530 words)

	Oregon Department of Energy - Conservation Division Business Energy Tax Credits
		The tax credit is 35 percent of the eligible project costs - the incremental cost of the system or equipment that´s beyond standard practice.
		To qualify for a tax credit, retrofit projects must be 10 percent more efficient than existing installation.
		The tax credit is 35 percent of the incremental (or addition) costs of making the project exceed energy code or standard industry practice.
	www.oregon.gov /ENERGY/CONS/BUS/BETC.shtml (1237 words)

	Technology Investment Tax Credit Program \| Ohio Department of Development
		The tax credits may be applied to personal income tax, corporation franchise tax, public utility excise tax or the tax on dealers in intangibles.
		Investors applying for the tax credit must be able to answer "yes" to each of these questions.
		The investment for which the tax credit is claimed must be a purchase of common stock, preferred stock, membership interest, partnership or other equity position which does not exceed $250,000.
	www.odod.state.oh.us /tech/titc (638 words)

	Illinois Department of Employment Security
		Two types of tax credits are now offered to employers who hire and retain disadvantaged workers.
		The Welfare-to-Work Tax Credit for new hires employed 400 or more hours or 180 days is 35% of qualified wages for the first year of employment, and 50% for the second year.
		The maximum tax credit under WOTC has been increased to $2,400 per new worker, calculated at 40% of the first $6,000 in wages.
	www.ides.state.il.us /employer/uitax/credits.asp (750 words)

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