Manufacturing and Processing (M&P) Tax Credit
1 definition found for this term.
Definitions are presented in the order source books were published (most recent first).
Income Tax Law, 2/e$75.00 – $120.00
A federal tax reduction is provided on Canadian manufacturing and processing income not subject to the small business deduction. This credit has the effect of lowering the tax rate on M&P income from the general federal rate.