Tax exemption
MONETARY EXEMPTION FROM TAXES THAT WOULD OTHERWISE BE LEVIED
Tax-exempt; Tax-exempt status; Tax exempt status; Tax-exempt organization; Tax exempt; Tax Exemption; Exemption from taxation; Tax exemptions; Exemption from tax; Tax free; Tax exemption for religious organizations; Tax relief
Tax exemption is the reduction or removal of a liability to make a compulsory payment that would otherwise be imposed by a ruling power upon persons, property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items.