negative income tax

negative income tax definition - business

negative income tax

Government payments to an individual or household whose reported taxable income is below a specified amount. The negative income tax is a system of income redistribution in which individuals and households are guaranteed a minimum level of income (or tax payments).

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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