exemption
Definition 1
Freedom from an obligation, restriction, or responsibility.
Definition 2
Amount that can be legally deducted from a gross income to arrive at the taxable income. See also exclusion.
exemption is in the Accounting & Auditing and Corporate, Commercial, & General Law subjects.
exemption appears in the definitions of the following terms:
tax avoidance,
charter,
export processing zone (EPZ),
tax incentive,
personal exemptions,
tax return,
carryover basis value,
diplomatic immunity,
privilege,
tax abatement
and
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