tax-exempt income

tax-exempt income
Income that is specifically made exempt from taxation by Congress, such as certain Social Security benefits, tax-exempt interest, welfare benefits, nontaxable life insurance proceeds, and nontaxable pension income.
Category: Back Taxes & Tax Debt
Category: Business, LLCs & Corporations → Business Accounting, Bookkeeping & Finances
Category: Business Cash Flow Problems & Bankruptcy
Category: Business, LLCs & Corporations → Business Tax & Deductions
Category: Personal Finance & Retirement → Money & Taxes for Retirees
Category: Personal Finance & Retirement → Taxes → Personal Income Taxes
Category: Personal Finance & Retirement → Taxes → Tax Audits

Nolo’s Plain-English Law Dictionary. . 2009.

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Look at other dictionaries:

  • tax-exempt income — dividends and interest not subject to federal and, in some cases, state and local income taxes. Bloomberg Financial Dictionary * * * tax exempt income tax exempt income ➔ income * * * tax exempt income UK US noun [C or U] (also tax free income)… …   Financial and business terms

  • tax exempt income — Income exempt from income tax; nontaxable income, such as interest on state and municipal bonds, compensation for injuries or sickness, proceeds of life insurance, etc. Funds accruing as income in the broad sense of the term, but not taxable as… …   Ballentine's law dictionary

  • tax-exempt income fund — A mutual fund that seeks income that is exempt from federal and, in some cases, state and local income taxes. Bloomberg Financial Dictionary …   Financial and business terms

  • tax-free income — See tax exempt income …   Ballentine's law dictionary

  • tax-exempt — ▪ I. tax exempt ˈtax exˌempt 1 noun [countable] TAX an investment on which you do not have to pay tax: • There is strong investor demand for tax exempts.   [m0] ▪ II. tax exempt tax exempt 2 adjective …   Financial and business terms

  • tax exempt entity — USA An entity that is generally exempt from paying federal and state taxes. The entity generally must apply for a federal and state determination that it is exempt from taxes. Certain income of a tax exempt entity may still be subject to tax,… …   Law dictionary

  • tax–exempt — adj 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 Merriam Webster’s Dictionary of Law. Merriam Webster. 1996 …   Law dictionary

  • tax exempt — adj. Not subject to taxation. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008. tax exempt adj. Not subject to tax. This term is usually descriptive of …   Law dictionary

  • tax-exempt — [taks′eg zempt′] adj. 1. exempt from taxation; that may not be taxed 2. producing income that is exempt from taxation [tax exempt bonds] …   English World dictionary

  • Tax exempt bond premium laundering — is an alleged practice of U.S. securities firms in the early 2000s to shelter capital gains income by improperly accounting for losses on tax exempt bonds. [http://www.bloomberg.com/apps/news?pid=20601039 refer=columnist mysak sid=a Df5OghyryY]… …   Wikipedia

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