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单词 notch provision
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notch provision
notch provision n. Economics a provision (in a system of taxation, etc.) designed to eliminate or lessen the effect of a notch (sense 6).
ΚΠ
1938 F. M. Vinson in Congr. Rec. 3 Mar. 2780/1 Without the notch provisions, a corporation with an ordinary net tax of $25,001..would have a tax of $1,475.20 more than the corporation with a net income of $1 less.
1945 H. L. Lutz Guideposts to Free Econ. xi. 101 A so-called ‘notch’ provision would be required to prevent the income tax from reducing incomes that are slightly above the $1,000 or $2,000 levels, respectively, to a point below those levels.
1950 H. C. Murphy National Debt v. 53 Amounts of tax liability of $50 or less were canceled completely, and those between $50 and $66.67 were canceled more than 75 per cent in accordance with a ‘notch’ provision.
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