Tax Break (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 offered a tax break to companies that invested in renewable energy sources.
- The new tax break on research and development spending was expected to boost innovation in the tech industry.
- The city provided a tax break to the film production company in exchange for using local vendors and hiring local actors.
- The state legislature passed a bill that granted a tax break to small businesses that created new jobs in low-income areas.
- The tax break on charitable donations was designed to encourage wealthy individuals to give more to non-profit organizations.