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tax exemption
(redirected from Tax exempt)

   Also found in: Financial, Acronyms, Wikipedia 0.13 sec.
tax exemption, immunity from the requirement of paying taxes. Federal, state, and usually local law provide exemption from taxation for a wide variety of organizations, usually not-for-profit, such as churches, colleges, universities, health care providers, various charities, civic leagues, labor unions, trade associations, social clubs, and political organizations. Such policies date back to 1894, when the U.S. Congress passed income tax laws that provided exemptions for certain institutions.


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A similar spirit has informed the early efforts of the Internal Revenue Service's Tax Exempt Bond (
1 million tax exempt bond financing with the Town of Riverhead Industrial Development Agency on Oct.
The Internal Revenue Service ORS) appointed new members to the Advisory Committee on Tax Exempt and Government Entities (ACT).
 
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