Of the following statements about tax credits, which one is correct?
A) They are deducted from total income and are effectively not subject to tax.
B) They reduce tax by the same amount regardless of a taxpayer's marginal tax rate.
C) They are deducted from Net Income For Tax Purposes and are effectively not subject to tax.
D) Their impact is greater for taxpayers with a higher marginal tax rate.
Correct Answer:
Verified
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