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.
The noun comity means a state of civility or courtesy between people, organizations, and nations. It's a hoped-for mutual respect and friendliness, although too infrequently the case in politics and business. Comity is one of those rare words that has retained its original meaning through the ages. The Latin adjective cÅmis, courteous, friendly, developed into the noun cÅmitÄtem, meaning courtesy or friendliness and ultimately into English comity in the 16th century.