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tax credit

British

noun

(in Britain) a social security benefit paid in the form of an additional income tax allowance

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

If a New York pass-through with two partners pays $100,000 in state tax, each partner would get a $50,000 state tax credit to offset his liability on his share of the business’s earnings.

From The Wall Street Journal • Apr. 5, 2026

Americans lost the $7,500 EV purchase tax credit in September.

From Barron's • Mar. 26, 2026

Oklahoma became the first state in 2023 to pass a comprehensive statewide caregiver tax credit, followed by Nebraska in 2024.

From MarketWatch • Mar. 26, 2026

The end of the $7,500 federal tax credit last year led to plummeting EV sales, resulting in high dealer inventory.

From The Wall Street Journal • Mar. 22, 2026

Some draw on government help in the form of food stamps, housing vouchers, the earned income tax credit, or—for those coming off welfare in relatively generous states—subsidized child care.

From "Nickel and Dimed: On (Not) Getting By in America" by Barbara Ehrenreich

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023