NIT meaning in Business ?

Answer: What is Negative Income Tax mean?

In economics, a negative income tax (NIT) is a system which reverses the direction in which tax is paid for incomes below a certain level; in other words, earners above that level pay money to the state while earners below it receive money, as shown by the blue arrows in the diagram. NIT was proposed by Juliet Rhys-Williams while working on the Beveridge Report in the early 1940s and popularized by Milton Friedman in the 1960s as a system in which the state makes payments to the poor when their income falls below a threshold, while taxing them on income above that threshold. Together with Friedman, supporters of NIT also included James Tobin, Joseph A. Pechman, and Peter M. Mieszkowski, and even then-President Richard Nixon, who suggested implementation of modified NIT in his Family Assistance Plan. After the increase in popularity of NIT, an experiment sponsored by the US government was conducted between 1968 and 1982 on effects of NIT on labour supply, income, and substitution effects.

reference

Full Form	Category
Noshirvani Institute of Technology	Academic & Science
Narula Institute of Technology	Academic & Science
National Institute of Technology	Academic & Science
Northern Institute of Technology Management	Academic & Science
Nagarjuna Institute of Technology	Academic & Science
Naval Institute of Technology	Academic & Science
Niort	Airport Code
Nations in Transit	Associations & Organizations
Negative Income Tax	Business
New Infrared Technologies	Business
National Investment Trust	Business
Near Infrared Transmittance	Chemistry
Non Instructional Time	Community
Network Integration Testing	Computing
Network Interface Tap	Computing
New Information Technologies	Computing
Network Investigative Technique	Computing
Networking and Information Technology	Computing
Northern Institute of Technology	Computing
New Imaging Technologies	General
Northwestern Is Terrific	General
Nodo Info Telematico	General
Nissan Terrano	General
Not In Traffic	General
Dodge Nitro	General
Near Identity Transformation	General
Not Interesting Tournament	General
Not Important Tournament	General
Not In Tourney	General
Non Instruction Time	General
Notice Inviting Tender	General
Not In Trust	General
Not Invited Tournament	General
National Invitation Tournament	General
National Intramural Tournament	General
Not In Tournement	General
No Investment Tournament	General
Not Interested Tournament	General
Not In There	General
Not In The Tournament	General
Neural Integration Technique	General
Norfolk International Terminals	General
Northern Industrial Training	General
Número de Identificación Tributaria	General
New in Town	General
Newly Impacted Testicles	General
Nova Inventory Transfer	General
Nagpur Improvement Trust	Governmental
National Institutes of Technology	Indian Government Educational Institute
NAIKOT	Indian Railway Station
Nitrate	Medical
Now Is The Time	Messaging
Network Integration Test	Military and Defence
Network Information Table	Networking
National Indigenous Times	News & Entertainment
Niort, France	Regional
Negara Indonesia Timur	Regional
Not In Tournament	Sports
National Invitational Tournament	Sports
Niort Airport	Transport & Travel