Tax expenditure means the amount of foregone tax collections
Tax expenditure means an amount of state revenue unavailable for general fund appropriation when the loss of revenue is attributable to a provision of the South Carolina Code of Laws which allow a special exclusion, exemption, or deduction from gross income, which provide a special credit, a preferential rate of tax, or a deferral of tax liability or which allocate or distribute state funds pursuant to an incentive program or fund.”
Tax expenditure means a tax provision in the Revised Code that exempts, either in whole or in part, certain persons, income, goods, services, or property from the effect of taxes levied by the state, including, but not limited to, tax deductions, exemptions, deferrals, exclusions, allowances, credits, reimbursements, and preferential tax rates, provided all of the following apply to the provision:
Examples of Tax expenditure in a sentence
Tax expenditure estimates in this category were also based on tax return data.
Tax expenditure report; summary; submission required; joint hearing; supplemental information.
Tax expenditure estimates are not explicitly displayed in the Statements of Net Cost or Changes in Net Position.
Tax expenditure analysis can help both policymakers and the public to understand the actual size of government, the uses to which government resources are put, and the tax and economic policy consequences that follow from the implicit or explicit choices made in fashioning legislation.
Understanding Estimates Tax expenditure estimates are developed to aid policymakers.
More Definitions of Tax expenditure
Tax expenditure means the amount of foregone tax collections due to any abatement, reduction, exemption, credit, or transfer certificate against any State or local tax.
Tax expenditure means a tax provision which provides a gross income definition, deduction, exemption, credit, or rate for certain persons, types of income, transactions, or property that results in reduced tax revenue, but excludes provisions used to mitigate tax pyramiding.
Tax expenditure means a deduction,
Tax expenditure means the amount of foregone tax collections due to any abatement, reduction, exemption, or credit against any State tax, including, but not limited to, taxes on raw materials, inventories or other assets, taxes on gross receipts, income, or sales, and any use, excise, or utility tax. "Tax expenditure" shall not mean any credit against any tax liability of an employee or any personal exemption, homestead rebate, credit, or deduction for the expenses of a household or individual, or other reduction of the tax liability of an individual or household.
Tax expenditure means the amount of uncollected tax revenues
Tax expenditure means the quantified value of tax incentives granted to a company by the Government;”
Tax expenditure means the revenue which Government foregoes through the provisions of tax laws that allows deductions, exclusions or exceptions, exemptions from the taxpayer's taxable expenditure income or investment, deferral of a tax liability or preferential tax rates;