A credit that a taxpayer is permitted to claim on the federal tax return (a direct offset to tax liability) as a result of ownership of qualified equipment. ITC was repealed by the Tax Reform Act of 1986- for all equipment placed in service after 1985. State Investment Tax Credits still exist to promote selected equipment in certain states.
INVESTMENT TAX CREDIT (ITC)
Meaning of INVESTMENT TAX CREDIT (ITC) in English
Finance-Leasing English vocabulary. Английский словарь финансов и лизинга. 2012