Not subject to taxation. More generally, to be free of restrictions or rules.
Free, or released, from some liability to which others are subject; excepted from the operation or burden of some law; released; free; clear; privileged; -- (with from): not subject to; not liable to; as, goods exempt from execution; a person exempt from jury service.
One exempted or freed from duty; one not subject.
To release or deliver from some liability which others are subject to; to except or excuse from he operation of a law; to grant immunity to; to free from obligation; to release; as, to exempt from military duty, or from jury service; to exempt from fear or pain.
If something is exempt from tax, no tax can be charged on it unless the law is changed. Zero-rate is not the same as exempt. The tax on something zero-rated is 0% at the moment. However, the Government could change it to another rate, such as 2% or 7%, without having to change the law.
(1) To release or be free from some liability to which others are subject. (2) Property not available for seizure.
is being freed from or not subject to an obligation, liability, tax, etc.; excused. Examples: exempt gifts or tax-exempt bonus.
Exempt from tax liability - Before a taxpayer pays taxes, he/she can claim a set amount of tax deductions for him/herself, a spouse and eligible dependents. The total amount is subtracted from the adjusted gross income. Then the tax on the remaining income is figured out. Exempt from withholding - Taxpayers can be exempt from paying a certain amount of federal income tax if they meet certain income, tax liability, and dependency requirements. In fact, you could be exempt from having certain taxes taken out of your paycheck. If you have a job, be smart and check into this.
grant exemption or release to; "Please excuse me from this class"
(of persons) freed from or not subject to an obligation or liability (as e.g. taxes) to which others or other things are subject; "a beauty somehow exempt from the aging process"; "exempt from jury duty"; "only the very poorest citizens should be exempt from income taxes"
(of goods or funds) not subject to taxation; "the funds of nonprofit organizations are nontaxable"; "income exempt from taxation"
Free from withholding of federal income tax. A person must meet certain income, tax liability, and dependency criteria. This does not exempt a person from other kinds of tax withholding, such as the Social Security tax.
To excuse or exclude a child with disabilities or a group of children form participating in an assessment.
Some properties are exempt from paying taxes such as cemeteries, churches, and government agencies.
To be freed from liability or allegiance
Real estate that is not subject to property tax such as that owned by nonprofit entities including charitable, governmental, and religious institutions.