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tax-exempt
[ taks-ig-zempt ]
adjective
- not subject or liable to taxation:
tax-exempt imports.
- providing income that is not taxable:
tax-exempt municipal bonds.
noun
- a tax-exempt security.
tax-exempt
adjective
- (of an income or property) exempt from taxation
- (of an asset) earning income that is not subject to taxation
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Word History and Origins
Origin of tax-exempt1
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Example Sentences
But having reached something of a compromise, the IRS approved the school as a tax-exempt nonprofit in March 2002.
The tax-exempt donations do not appear to run afoul of U.S. law.
In March 2010, the IRS office began looking at the tax exempt status of tea party groups.
But as a matter of law, these tax-exempt organizations do maintain a pro-forma nonpartisan posture.
The commissioner of the IRS Tax Exempt and Government Entities Division was forced into retirement.
The tax-exempt organizations have a vested interest in the oppressive, inequitable, and wasteful federal-income-tax system.
These accumulations of tax-exempt billions place a heavier burden on taxpayers.
But the Cox resolution was adopted in 1952; and the Cox committee to investigate tax-exempt foundations was set up.
As the income tax rate decreases, the yield from tax-exempt securities diminishes proportionately.
The yield of tax-exempt securities at prevailing prices ranges from 3-1/2% to nearly 4-1/2%.
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