Exempt
121Engaged in one precept, exempt from another — The idea that someone who is engaged in the performance of one precept of the Law is exempt from another precept is a concept in rabbinical Judaism. In Hebrew this is rendered עוסק במצוה פטור מן המצוה, osek b mitzvah patur min hamitzvah (lit.… …
122Germigny-l'Exempt — Pour les articles homonymes, voir Germigny. 46° 55′ 08″ N 2° 53′ 57″ E …
123Double Exempt — The status accorded to municipal bonds for which interest is not subject to taxation at either the federal or state level. In general, most states do not tax residents on interest income arising from tax exempt bonds issued by that state, its… …
124IRS Publication 557: Tax-Exempt Status for Your Organization — A document published by the Internal Revenue Service (IRS) that details the rules and regulations that have to be followed by an organization in order to obtain tax exempt status. IRS Publication 557 provides guidance as to required forms and… …
125Tax Exempt — To be free from, or not subject to, taxation by regulators or government entities. A tax exempt entity can be excused from a single or multiple taxation laws. Governments are often trying to encourage investment when exempting taxation. Certain… …
126tax-exempt status — ► the condition of being tax exempt: »The settlement preserved the tax exempt status of the bonds issued, thereby protecting investors. »We are studying the impact of the federal tax exempt status provided to college athletic departments. Main… …
127partially exempt — In the context of value added tax (VAT), a taxable person who makes taxable supplies (taxable supply) and exempt supplies (See exempt supply) will be able to recover input tax only to the extent that the input tax is attributable to his taxable… …
128tax exempt entity — USA An entity that is generally exempt from paying federal and state taxes. The entity generally must apply for a federal and state determination that it is exempt from taxes. Certain income of a tax exempt entity may still be subject to tax,… …
