Tax Benefit (Noun)
Meaning
A tax deduction that is granted in order to encourage a particular type of commercial activity.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The government offers a tax benefit to companies that invest in renewable energy to reduce their carbon footprint and promote sustainability.
- The tax benefit for hiring apprentices has been doubled to incentivize businesses to provide training and development opportunities for young people.
- The city is offering a tax benefit to small businesses that locate in the downtown area to revitalize the local economy.
- The new tax legislation includes a tax benefit for companies that invest in research and development to encourage innovation and growth.
- The tax benefit for historic building restorations allows property owners to offset some of the costs of preservation and renovation.