tax break

1. A special tax benefit given to promote specific economic or social objectives. For example, the U.S. government, having decided that individual home ownership is a boon to the economy, allows interest on a home mortgage to be subtracted, in whole or in part, from one's taxable income. The resulting lower taxation for homeowners constitutes a tax break.

Example Sentences

Italy has lured new high-net-worth residents and skilled workers from around the world, especially London, with enticing tax breaks.

Read more on The Wall Street Journal

These tax breaks have income caps and phase-outs, which may prompt some people to strategize ways to reduce taxable income in order to qualify.

Read more on MarketWatch

Also be sure to find out if you can get any other incentives to offset the cost of the pumps, besides the federal tax breaks.

Read more on The Wall Street Journal

Going forward, it remains to be seen how much demand for EVs there will be when U.S. buyers don’t have the benefit of the special tax break.

Read more on The Wall Street Journal

Thurmond said he would build two million housing units on surplus land on school sites around the state and provide a tax break for working and middle class Californians.

Read more on Los Angeles Times