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  3. tax credits: a. reduce taxable income in the year

Tax credits: a. reduce taxable income in the year the credit is earned. b. reduce...

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Accounting

Tax credits:

a. reduce taxable income in the year the credit is earned.

b. reduce taxable income in the year the credit is recognized.

c. are direct offsets against income tax liability.

d. are available only to corporations and trusts.

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