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.
(ËvÊlÉ¡É) adj. 1. marked by lack of taste, culture, delicacy, manners, etc: vulgar behaviour; vulgar language. 2. (Linguistics) (often capital; usually prenominal) denoting a form of a language, esp of Latin, current among common people, esp at a period when the formal language is archaic and not in general spoken use. 3. archaic.