exemption

[ig-zemp-shuhn]
noun
1.
the circumstances of a taxpayer, as age or number of dependents, that allow him or her to make certain deductions from taxable income.
2.
the act of exempting.
3.
the state of being exempted; immunity.

Origin:
1400–50; late Middle English < Latin exemptiōn- (stem of exemptiō) removal. See exempt, -ion

exemptive, adjective
nonexemption, noun
preexemption, noun


3. exception. Exemption, immunity, impunity imply special privilege or freedom from imposed requirements. Exemption implies release or privileged freedom from some duty, tax, etc.: exemption from military service. Immunity implies freedom from a penalty or from some liability, especially one that is disagreeable or threatening: immunity from disease. Impunity (limited mainly to the fixed expression with impunity ) primarily suggests freedom from punishment: The police force was so inadequate that crimes could be committed with impunity.


3. liability.
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Word Origin & History

exemption
late 14c., from Fr. exemption, from L. exemptionem, noun of action from eximere (see exempt).
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Yet the city government granted exemptions to many returning homeowners,
  grandfathering their houses at their prior elevations.
The tax upon the incomes of citizens residing abroad was five per cent, without
  the usual exemptions.
Permission is needed for republishing or excerpting, with limited exemptions
  for fair use.
Instead, they need incentives and exemptions from pollution and habitat loss to
  do business.
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