Roughly speaking, the credit amount is the difference between the AMT computed with and without the deferral item of preference. If you were unfortunate enough to have been affected by the alternative minimum tax (AMT) in a prior year, then you may have a carryover of an unused minimum tax credit.
Freebase(1.00 / 1 vote)Rate this definition: Vulgarity is the quality of being common, coarse, or unrefined. This judgement may refer to language, visual art, social classes, or social climbers.
A simple fraction (also known as a common fraction or vulgar fraction) is a rational number written as a/b or a b {\displaystyle {\tfrac {a}{b}}} , where a and b are both integers. As with other fractions, the denominator (b) cannot be zero.