|Definition||:||Negative Income Tax|
|Category||:||Academic & Science » Economics|
What does NIT mean?
Negative Income Tax (NIT) is a tax system in which the people below a certain income are eligible for supplemental pay from the government rather than paying taxes. In other words, earners above a certain level pay taxes to the government while earners below it receive money.
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Frequently Asked Questions (FAQ)
What is the full form of NIT in Economics?
The full form of NIT is Negative Income Tax