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.
shortness of time or duration; briefness: the brevity of human life. the quality of expressing much in few words; terseness: Ironically, it is long-winded Polonius in Shakespeare's Hamlet who famously says that brevity is the soul of wit.