investment credit

investment credit
A direct credit against the federal income tax applied where certain depreciable property having a useful life of at least four years is placed in service during the taxable year, the amount of the credit being seven per cent of the qualified investment which in turn depends upon the useful life of the property. IRC §§ 46(c)(1), 48(a)(1).

Ballentine's law dictionary. . 1998.

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