Notes. 1  Most Lantern Corps have a Power Ring and a Power Battery. 2  Both Power Ring and Indigo Lantern Power Staff are both utilized by Tribe Members and are capable of directing the Indigo Light into direct Lantern Energy Constructs.
Tax credit. A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state. It may also be a credit granted in recognition of taxes already paid or, as in the United Kingdom, a form of state support.
But only one Lifetime Learning Credit can be claimed per return. The American Opportunity Tax Credit, however, imposes a requirement that the student for whom the credit is claimed has no felony drug convictions. The Lifetime Learning Credit has no such requirement. We will assume for now that the taxpayer has decided to go ahead and calculate the amount he or she can claim for an American Opportunity Tax Credit. The next question to ask is whether a taxpayerâs adjusted gross income (AGI) falls beneath the phase-out limit.