Focus on the pronunciation of tax-exempt
English definition of “tax-exempt”
adjective (also tax exempt) TAX, GOVERNMENT
› used to describe a product, service, or financial arrangement on which no tax is paid: The poorest families pay no grocery tax because their food stamp purchases are tax exempt.tax-exempt income/contribution The savings account will be limited to €50,000 for tax-exempt contributions. a tax-exempt bond/fund/plan
› used to describe an organization that does not have to pay tax: The federal tax code prohibits using income and assets from tax-exempt organizations for personal gain.
tax-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.