Legal Definition tax-exempt adjective 1 : exempted from taxation also : based on such exemption tax-exempt status 2 : providing interest or income that is exempted from taxation a tax-exempt municipal bond More from Merriam-Webster on tax-exempt Nglish: Translation of tax-exempt for...
Define Tax Aspects. Tax Aspects synonyms, Tax Aspects pronunciation, Tax Aspects translation, English dictionary definition of Tax Aspects. n. pl. an·nu·i·ties 1. a. The annual payment of an allowance or income. b. The right to receive this payment or
exempt - grant relief or an exemption from a rule or requirement to; "She exempted me from the exam" relieve, free derestrict - make free from restrictions deregulate - lift the regulations on dispense - grant a dispensation; grant an exemption; "I was dispensed from this terrible task" fo...
This is especially the case when it comes to various types of taxes. It depends on your investing strategy, and your ultimate goal. For example, interest, dividends, and capital gains all get taxed differently depending on the length of your investment and your adjusted gross income. Some ...
Any organization that falls under these tax codes may be subject to a proxy tax, or an exemption from the proxy tax. Example of Proxy Tax Let’s say that Company X pays $10,000 in annual dues to their local business league. They pay this amount under the assumption that only 60% of...
exemption inTax topic From Longman Dictionary of Contemporary Englishex‧emp‧tion/ɪɡˈzempʃən/●○○noun1[countable]an amount of money that you do not have to paytaxonYou qualify for atax exemptionon the loan.2[countable, uncountable]permissionnot to do or pay something that you...
Exempt income refers to certain types of income not subject toincome tax. Some types of income are exempt from federal or state income tax or both. The IRS determines which types of income are exempt from federal income tax and the circumstances for each exemption. States have their own rules...
purposes rather than for-profit motives. Similarly, governmental entities and certain types of cooperatives may also be eligible for exemptions from franchise taxes. As an incentive for offering services that benefit society, taxing authorities may offer a financial incentive via a tax exemption. ...
What Is the Estate Tax Exemption for 2024? The estate tax is the amount below which a decedent’s estate is not subject to taxes. For 2024, the exemption is $13.61 million. For 2025, it increases to $13.99 million.67 How Much Is the Earned Income Tax Credit for 2024? The earned inco...
A tax break is a tax deduction, credit, exemption, or exclusion that helps individuals and businesses save money on their tax bills.