tax shelter

tax shelter
tax shelter n: an entity (as a partnership) or investment plan or arrangement whose principal purpose is the avoidance or evasion of income tax; also: an interest offered or purchased on the premise that it will provide favorable tax consequences
purchased limited partnership tax shelters

Merriam-Webster’s Dictionary of Law. . 1996.

tax shelter
A fund, transaction, business arrangement, or other method used by a taxpayer to reduce taxable income or tax liability.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.

tax shelter
n. A transaction or investment by which a taxpayer shelters some or all income from tax liability because of tax credits or applicable deductions. Abuses of tax shelters resulted in extensive reform of the Internal Revenue Code, restricting loss from a business or an investment to only the capital that is at risk. This greatly reduced the availability of tax shelters.

Webster's New World Law Dictionary. . 2000.

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