surtax exemption
surtax exemption. 1. An exclusion of an item from a surtax. [Cases: Internal Revenue 3633. C.J.S. Internal Revenue §§ 17–18, 368, 387.] 2. An item or an amount not subject to a surtax. See surtax under TAX.
Search Results for: EXEMPT
exempt security
A security that need not be registered under the provisions of the Securities Act of 1933 and is exempt from the margin requirements of the Securities Exchange Act of 1934. [Cases: Securities Regulation 14.10–14.40. C.J.S. Securities Regulation §§ 23, 51–61, 69.]
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.]
exemption from taxation
exemption from taxation 免税 广义可指对所有财产的免税。狭义指对某些特定的个人或企业，或某一类个人或企业免征财产税、营业税、国内货物税或消费税〔excise〕。
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homestead exemption laws
homestead exemption laws 〈美〉〔总称〕宅地豁免法 大多数州通过的法律。允许宅地拥有人或家长标明一处房屋及土地作为其宅地，在执行其一般债务时，该宅地免予被强制执行。在某些州，宅地还可获得财产税减免。确立宅地的法定条件包括每年一次正式声明，该声明应记录在案。
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waiver of exemption
waiver of exemption. 1. A debtor’s voluntary relinquishment of the right to an exemption from a creditor’s levy or sale of any part of the debtor’s personal property by judicial process. [Cases: Exemptions 89–99; Homestead 169–176.] 2. The contractual clause expressly providing for such a waiver. [Cases: Exemptions 92; Homestead 170.]
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exempt transaction
exempt transaction. A sale that falls outside the scope of a certain statute, such as the Securities Act of 1933 or the Securities Exchange Act of 1934. [Cases: Securities Regulation 18.10–18.30. C.J.S. Securities Regulation §§ 62–69, 73.]
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home style exemption
home-style exemption. Copyright. A provision in the U.S. Copyright Act allowing for the public airing of radio and television broadcasts in public-accommodation establishments, such as bars and restaurants, with impunity from liability for infringement. • The exemption is so named because the equipment used for the airing must be a single receiver of the type
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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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