Definitions for tax exemption
tax ex·emp·tion

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1. Tax exemption

   Various tax systems grant a tax exemption to certain organizations, persons, income, property or other items taxable under the system. Tax exemption may also refer to a personal allowance or specific monetary exemption which may be claimed by an individual to reduce taxable income under some systems. Tax exempt status may provide a potential taxpayer complete relief from tax, tax at a reduced rate, or tax on only a portion of the items subject to tax. Examples include exemption of charitable organizations from property taxes and income taxes, exemptions provided to veterans, and exemptions under cross-border or multi-jurisdictional principles. Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances. Tax exemption also generally refers to removal from taxation of a particular item or class rather than a reduction of taxable items by way of deduction of other items. Tax exemptions may theoretically be granted at any governmental level that imposes taxation, though in some broader systems restraints are imposed on such exemptions by lower tier governmental units.

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1. Tax Exemption

   Status not subject to taxation; as the income of a philanthropic organization. Tax-exempt organizations may also qualify to receive tax-deductible donations if they are considered to be nonprofit corporations under Section 501(c)3 of the United States Internal Revenue Code.

How to pronounce tax exemption?

1. Alex

   US English

   David

   US English

   Mark

   US English

   Daniel

   British

   Libby

   British

   Mia

   British

   Karen

   Australian

   Hayley

   Australian

   Natasha

   Australian

   Veena

   Indian

   Priya

   Indian

   Neerja

   Indian

   Zira

   US English

   Oliver

   British

   Wendy

   British

   Fred

   US English

   Tessa

   South African

How to say tax exemption in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of tax exemption in Chaldean Numerology is: 9

2. Pythagorean Numerology

   The numerical value of tax exemption in Pythagorean Numerology is: 4

Examples of tax exemption in a Sentence

1. Congressman Jason Chaffetz:

   I want to give Roger Goodell a fair shot to explain the tax-exemption.

2. Eugene Volokh:

   Supreme Court made clear that if you deny a tax exemption Supreme Court's the same as a fine, so, one question you might ask is, would it be permissible to say we're going to impose a fine on any group or any religious group that takes a particular view about same-sex marriage ? The answer is of course not. Clearly it would be a Facts First : Legal precedent Amendment violation.

References

1. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=tax exemption