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Tax Credit

A direct reduction in the amount of tax owed, dollar for dollar. Unlike a deduction, which only reduces taxable income, a credit reduces the actual tax bill.

In-ovo Sex Identification Equipment

Technology used to determine the sex of a chicken embryo while it is still inside the egg, before hatching.

Commercial Egg Hatchery Facility

A business operation primarily focused on hatching chicks that will be raised for commercial egg production.

Placed in Service

The date when a piece of property, such as equipment, is ready and available for its intended use in a business, regardless of when it was purchased.

Internal Revenue Code of 1986

The main body of federal tax law in the United States, which outlines all rules and regulations for taxation.

Basis Reduction

When a tax credit is received for an asset, the value of that asset for tax purposes (its 'basis') is typically reduced by the amount of the credit. This affects how depreciation is calculated and the gain or loss if the asset is sold later.