| Dictionary, Encyclopedia and Thesaurus - The Free Dictionary 1,775,144,683 visitors served. |
Dictionary/ thesaurus | Medical dictionary | Legal dictionary | Financial dictionary | Acronyms | Idioms | Encyclopedia | Wikipedia encyclopedia | ? |
tax exemption |
Also found in: 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. |
|
| ? Mentioned in | ? References in periodicals archive | |
|---|---|---|
The spotlight has focused locally on All Saints Episcopal Church in Pasadena, which is in jeopardy of losing its tax-exempt status following a complaint last year that it ventured too far into the political arena when a former rector criticized the Bush administration in a sermon during the 2004 elections. Texas officials have agreed to extend tax-exempt status to a non-theistic church. This election provides an alternative mechanical method, under which the charity's lobbying activities will not jeopardize its tax-exempt status as long as its expenditures do not exceed certain limits. |
| Encyclopedia |
| Free Tools: |
For surfers:
Free toolbar & extensions |
Word of the Day |
Help
For webmasters: Free content | Linking | Lookup box | Double-click lookup | Partner with us |
|---|