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What are Tax Expenditures

Tax Expenditures: The subsidies offered via the taxation systems by generating deductions, credits and exclusions of certain kinds of income or expenditures which would otherwise be taxable.

   Related Questions in Finance Basics

  • Q : What is Enrolled Bill Report Enrolled

    Enrolled Bill Report (EBR): The analysis prepared on Legislative measures passed by both houses and passed on to the Governor, to give the Governor’s Office with information relating to the measure with a recommendation for action by the Governo

  • Q : Describe Form 9 Form 9 : It is the

    Form 9: It is the request by department for space planning services (example, new or extra space lease extensions, or renewals in non-institutional) and also evaluated by the Department of Finance.

  • Q : Define Budget Year Budget Year (BY) :

    Budget Year (BY): The next state fiscal year, starting July 1 and ending June 30, for which the Governor's Budget is proposed (that is, the year following the present fiscal year).

  • Q : What is the Character of Expenditure

    Character of Expenditure: A classification recognizing the major purpose of expenditure, like State Operations, Local Assistance, Capital Outlay, or Unclassified.

  • Q : Durable goods industries and

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  • Q : Define Veto Veto : It is the Governor's

    Veto: It is the Governor's Constitutional authority to reduce or remove one or more items of appropriation while accepting other parts of a bill.

  • Q : Explain Plan of Financial Adjustment

    Plan of Financial Adjustment (PFA): This is the plan proposed by a department, accepted by the Department of Finance, and acknowledged by the State Controller's Office (SCO), to allow the SCO to assign costs paid from one item to one

  • Q : How are financial trades made in an

    How are financial trades made in an over the counter market?On the contrary to the organized exchanges that have physical locations, the over the counter market contain no fixed location, or more accurately, it is everywhere. The over the counte

  • Q : Define Referendum Referendum: This is

    Referendum: This is the power of the electors to support or reject statutes or parts of statutes, with particular exceptions and meeting particular deadlines and number of voter’s signatures.

  • Q : What is Working Capital and Revolving

    Working Capital and Revolving Fund: For legal base accounting purposes, fund categorization for funds employed to account for the transactions of self-supporting enterprises which render goods or services for a direct charge to the user that is genera