personal exemption

An amount allowed as a deduction from an individual taxpayer’s adjusted gross income. [Cases: Internal Revenue 3295; Taxation 1031.1, 1048. C.J.S. Taxation §§ 1736–1739.]

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词条贡献者

译员黎川，在一家顶尖澳洲律师事务所的上海办公室担任全职法律翻译，擅长翻译涉及工业与制造业领域的法律文件。