tax-exempt Meaning in the Cambridge English Dictionary
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Meaning of “tax-exempt” in the English Dictionary

"tax-exempt" in British English

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tax-exemptadjective

uk   us   /ˌtæks.ɪɡˈzempt/
used to ​describe a ​product, ​service, or ​financialarrangement on which no ​taxes have to be ​paid: The ​poorestfamiliespay no ​tax on ​food because ​theirfoodstamppurchases are tax-exempt. used to ​describe a ​person or an ​organization that does not have to ​paytax: the tax-exempt status of ​collegeathleticdepartments
(Definition of tax-exempt from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"tax-exempt" in American English

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tax-exemptadjective [not gradable]

 us   /ˈtæks ɪɡˌzempt/
not ​considered as ​part of ​yourincome when you ​calculateyourtaxes: tax-exempt ​municipalbonds
(Definition of tax-exempt from the Cambridge Academic Content Dictionary © Cambridge University Press)

"tax-exempt" in Business English

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tax-exemptadjective

uk   us   (also tax exempt) TAX, GOVERNMENT
used to describe a ​product, ​service, or ​financialarrangement on which no ​tax is ​paid: The ​poorest families ​pay no ​grocerytax because their ​foodstamppurchases are ​taxexempt.tax-exempt income/contribution The ​savingsaccount 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 ​paytax: The ​federaltaxcodeprohibits using ​income and ​assets from tax-exempt ​organizations for ​personalgain.
tax-exempt status the ​condition of being tax-exempt: The ​settlement preserved the tax-exempt ​status of the ​bondsissued, thereby ​protectinginvestors. We are ​studying the ​impact of the ​federal tax-exempt ​statusprovided to college athletic ​departments.
(Definition of tax-exempt from the Cambridge Business English Dictionary © Cambridge University Press)
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