tax exempt

tax-exempt, adj.

1. By law not subject to taxation (a tax-exempt charity). [Cases: Internal Revenue 4045–4071; Taxation 211–250. C.J.S. Internal Revenue §§ 327, 462–474, 670, 798; Taxation§§ 266, 275, 277–282, 287–289, 291–298, 300, 303–383, 1736–1737.]

2. Bearing interest that is free from income tax (tax-exempt municipal bonds). — Also termed tax-free.

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词条贡献者

资深译员大智，毕业于美国一流的高级翻译学院，专注翻译各种与复杂诉讼有关的法律文件。