tax exemption
noun
ukus[U]TAX,GOVERNMENT
asituationin which apersonororganizationdoes not have topaytax:
There aretaxadvantages, such astaxexemption for up to threeyearsonprofitsfromexports.
a tax exemption on/for sthThe city'staxexemption onexportsdatesback to the 1960s.
I am against ataxexemption forprivateschools.
[C]TAX(alsoexemption);(UKalsotax allowance)
anamountofmoneythat can be taken off someone'sincomeandsavings, or a company'sprofitsbefore thetaxowediscalculated:
claim sb/sth as a tax exemptionTaxpayers mustprovideSocialSecuritynumbersfor eachdependentclaimedas ataxexemption.
a tax exemption on/for sth/sbHedeniedthat he hadclaimedataxexemption on hisofficiallimousine.
If youfileajointreturn, you canclaiman exemption foryourspouse.
As youfilloutyourfederalincometaxreturn,evenbefore youreportyourincome, theIRSasksyou tolistyourpersonalexemptions.