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General Business Tax Credit

What is 'General Business Tax Credit'

The total value of all the individual credits to be applied against income on a tax return. This credit can be carried forward for a number of years in most cases and can also be carried back in some cases.

Explaining 'General Business Tax Credit'

The General Business Tax Credit is unique in that it is not a single separate credit. Instead, it represents a smorgasboard of specific tax credits that promote certain business activities, such as research, oil recovery, reforestation, or starting a pension plan. Each credit is tallied up on a separate form first, then carried over to the General Business Tax Credit Form 3800.


Further Reading


Tax reforms to influence corporate financial policy: the case of the Italian business tax reform of 1997-98
ideas.repec.org [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

Simulating the effects of the tax credit program of the Michigan Economic Growth Authority on job creation and fiscal benefitsSimulating the effects of the tax credit program of the Michigan Economic Growth Authority on job creation and fiscal benefits
journals.sagepub.com [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

Federal financing of child care: Alternative approaches and economic implicationsFederal financing of child care: Alternative approaches and economic implications
link.springer.com [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

A cross‐national comparison of R&D expenditure decisions: tax incentives and financial constraintsA cross‐national comparison of R&D expenditure decisions: tax incentives and financial constraints
onlinelibrary.wiley.com [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

Tax policy and business fixed investment revisitedTax policy and business fixed investment revisited
www.sciencedirect.com [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

Tax incentives for affordable housing: the low income housing tax creditTax incentives for affordable housing: the low income housing tax credit
www.journals.uchicago.edu [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

Simulating the effects of Michigan's MEGA tax credit program on job creation and fiscal benefitsSimulating the effects of Michigan's MEGA tax credit program on job creation and fiscal benefits
papers.ssrn.com [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

The central role of credit crunches in recent financial historyThe central role of credit crunches in recent financial history
www.jstor.org [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …

Economic, administrative, and political factors in choosing a general consumption taxEconomic, administrative, and political factors in choosing a general consumption tax
www.jstor.org [PDF]
… corporate taxation; corporate financial policy; tax reform; … H25 - Public Economics - - Taxation, Subsidies, and Revenue - - - Business Taxes and Subsidies; H32 - Public Economics - - Fiscal Policies and Behavior of … See general information about how to correct material in RePEc …



Q&A About General Business Tax Credit


What is the General Business Tax Credit?

The General Business Tax Credit is a smorgasboard of specific tax credits that promote certain business activities, such as research, oil recovery, reforestation or starting a pension plan.

Who can receive income tax credits in certain systems?

Income tax systems provide income subsidies to lower-income individuals by way of income tax credit. These may be based on family status, work status, or other factors. Such credits are usually refundable when total credits exceed taxes owed. The United Kingdom's Child Tax Credit is an example of this type of system.

How does the General Business Tax Credit work?

This credit can be carried forward for a number of years in most cases and can also be carried back in some cases.

How often are tax credits available for use?

Tax credits may only be used once per year.

What does a tax credit allow you to do?

Tax credits allow taxpayers to subtract the amount they have accrued from their total taxes owed.

What are some examples of the different types of credits included in this credit?

Examples include research, oil recovery, reforestation or starting a pension plan.

Are there different types of credits?

Yes, there are many different types of credits.

What is a tax credit?

A tax credit is an amount that can be subtracted from the total owed to the state.

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