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Simple English definitions for legal terms

investment tax credit

Read a random definition: Dodd-Frank: Title VIII - Payment, Clearing, and Settlement Supervision

A quick definition of investment tax credit:

An investment tax credit is a type of tax credit that allows businesses to deduct a percentage of the purchase price of capital goods from their income taxes. This is intended to encourage businesses to invest in new equipment and technology. However, this credit was mostly repealed in 1986. A tax credit is different from a tax deduction because it directly reduces the amount of taxes owed, rather than just reducing taxable income. Other types of tax credits include the child and dependent care tax credit, earned income credit, and foreign tax credit.

A more thorough explanation:

An investment tax credit is a type of tax credit that allows a percentage of the purchase price of capital goods to be deducted from the taxpayer's income taxes. This credit is intended to stimulate business investment in capital goods.

For example, if a business purchases a new piece of equipment for $10,000 and the investment tax credit is 10%, the business can deduct $1,000 from their income taxes.

However, it's important to note that the Tax Reform Act of 1986 generally repealed this credit retroactively for most property placed in service after January 1, 1986.

Overall, the investment tax credit is a way for businesses to save money on their taxes while also investing in their own growth and development.

investment security | investment trust

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@JumpySubsequentDolphin: I appreciate the vote of confidence
JumpySubsequentDolphin
22:58
@shaquilleoatmeal: I HAAATE JABID
shaquilleoatmeal
23:03
Lmaooo why that song is mad catchy
JumpySubsequentDolphin
23:04
they’re so icky
JumpySubsequentDolphin
23:04
mahrajan shabab falastin - such a weird song
shaquilleoatmeal
23:04
Duly noted 🫡
shaquilleoatmeal
23:05
Put me on some good music then
23:06
How does that video have 290M views it looks like it was shot on a budget of $2 and a bottle of Coke
shaquilleoatmeal
23:07
Do you listen to saint levant? That’s a dude who can speak 5 languages lmao
shaquilleoatmeal
23:07
lol back in the day that’s how videos were made and it was pure gold
23:08
Levantine truly is the best one day I’ll find the will to learn Arabic and I’ll go with Levantine
23:10
my friend from college learned arabic and she became fluent and spent a semester doing independent study in jordan. i thought that was cool
JumpySubsequentDolphin
23:11
@shaquilleoatmeal: wea’youneha by sana moussa is the song i have reserved for my wedding
JumpySubsequentDolphin
23:12
@shaquilleoatmeal: he’s a douche but his music can be fairly catchy
JumpySubsequentDolphin
23:12
@renard99: yes I’m loving the Levantine love!! and @eggan v cool Amman is one of my fave places
shaquilleoatmeal
23:16
Send me a link - I get a couple mixed results when I search
shaquilleoatmeal
23:17
Nvm I found it
shaquilleoatmeal
23:20
Sounds like someone’s playing the qanun?
JumpySubsequentDolphin
23:23
perhaps
JumpySubsequentDolphin
23:23
the lyrics are chefs kiss
shaquilleoatmeal
23:29
Tell me what it translates to tomorrow, I gotta sleep, Laylah sa'eedah 😴
JumpySubsequentDolphin
23:31
tusbihun ‘ala khair
HELLO ALL
whos awake \
JumpySubsequentDolphin
23:42
hi SPLITTY!!!
HIII DOLPHYY
stanford finally sent me a status checker tomight
do yall know if "Your file has been submitted for review" just means under review
Dkk
0:08
@SplitterusClitterus: really depends on the school. Could mean they have just received it. Could be it is under review. Could mean they already have a decision for you. For Stanford, idk.
Mmm ok thank you
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