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.
Your snobby neighbor might mutter about your family's vulgar taste if you paint your house with rainbow stripes. From the Latin vulgus, meaning the common people, vulgar is an adjective that can describe anything from the sexually explicit to the merely ugly and crass. Many people believe that there's an important difference between things that are sexually frank and things that are vulgar.