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.
Such work was to him for the most part a detestable compound of vulgarity and rodomontade. Critical Miscellanies (Vol. 3 of 3) John Morley. This lack of perception, this incapacity for enjoyment of the beautiful, is vulgarity. Here there is no question of right or wrong, refinement or vulgarity. vulgarity is contentment with what is common, and to be had on easy terms. Light literature sank deeper and deeper into the slough of vulgarity and pruriency.