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tax exemption
(redirected from Tax exempt status)

   Also found in: Dictionary/thesaurus, Financial, Wikipedia 0.01 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.
tax exemption
The release of a property from the obligation to pay real estate taxes.


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Chapters include a general overview, rationales for tax exemption, IRS tests for tax exemption, religious organizations and churches, educational and arts organization, health care organizations, other 503[c](3) exempt organizations, charitable contributions, 501[c](4)s and their relationship to 501[c](3)s, section 501 [c](6), [c](7), and [c](8) organizations, unrelated business income tax, private foundations, and securing and maintaining tax exempt status.
Muntasser's filing for tax exempt status for Care International in June 1993 could support asking the jury to convict him "if there's another person to have a conspiracy.
The Canada Customs and Revenue Agency has revoked the tax exempt status of donations made to the Magen David Adom organization, because funds raised are used for the emergency medical service ambulances that operate in the occupied territories.
 
 
 
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