Examlex
All of the following are examples of the police powers reserved to the states EXCEPT
Tax Credit
An amount subtracted from the income tax owed; the most popular credits are the Child Care Tax Credit and the Earned Income Credit.
Taxable Income
The amount of an individual's or corporation's income used to determine how much tax is owed, calculated as gross income minus deductions and exemptions.
Energy-Efficient Furnace
A heating system designed to use less energy for the same level of heating comfort compared to less efficient models.
Exemption
Information included on tax forms that lowers taxes; exemptions include dependents as well as the taxpayer.
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