Which of the Following Statements Regarding Tax Credits Is True

question 68

Multiple Choice

Which of the following statements regarding tax credits is true?

• A)Tax credits reduce taxable income dollar for dollar.
• B)Tax credits provide a greater tax benefit the greater the taxpayer's marginal tax rate.
• C)Tax credits reduce taxes payable dollar for dollar.
• D)None of these statements is true.Credits reduce the taxes payable dollar for dollar and are therefore not sensitive to marginal tax rates.

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