exempt income

Income that is not subject to income tax. [Cases: Internal Revenue 4045–4071; Taxation 1048. C.J.S. Internal Revenue §§ 327, 462–474, 670, 798; Taxation § 1736–1737.]

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词条贡献者

译员海燕，毕业于法国顶尖的高级翻译学院，专注翻译各种与破产对抗诉讼有关的法律文件。