Joe has received a lot of credits, but doesnt fully understand them. Answer the following questions to help him understand them better.

All of the following, except , is a general business credit for corporations:

a.Work Opportunity Credit

b.Base erosion Credit

c.Investment tax Credits

d.Low-income housing Credit

e.Orphan Drug Credit

f.All of the following are possible credits

A credit will

a.Reduce taxable income (dollar amount) for every credit dollar amount for the corporation

b.Reduce income based on % of expense on eligible activities such as research and development and economy boosting investments.

c.Reduces tax liability for every dollar in credits awarded (received) for the corporation

d.Create a refund for the corporation, regardless of tax liability