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.
WordReference Random House Unabridged Dictionary of American English Â© 2016. brevâ¢iâ¢ty (brevâ²i tÄ), n. 1  shortness of time or duration; briefness:the brevity of human life.  the quality of expressing much in few words; terseness:Brevity is the soul of wit.