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 brevity means shortness or conciseness. If you give a report on agriculture in the northern hemisphere in 3 minutes, you have done it with incredible brevity. Brevity comes from brevis, which means brief in Latin. You can use brevity for things that are literally short, like the brevity of an elevator meeting, or the quality of fleetingness, like the brevity of youth. Brevity is also a style of speaking or writing with economy.