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.
Vulgar Latin. n. 1. (Languages) any of the dialects of Latin spoken in the Roman Empire other than classical Latin. The Romance languages developed from them. 2. (Historical Terms) any of the dialects of Latin spoken in the Roman Empire other than classical Latin. The Romance languages developed from them.