Exempts


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EXEMPTS. Persons who are not bound by law, but excused from the performance of duties imposed upon others.
     2. By the Act of Congress of May 8, 1792, 1 Story, L. U. S. 252, it is provided, Sec. 2. That the vice-president of the United States the officers, judicial and executive, of the government of the United States; the members of both houses of congress, and their respective officers; all custom-house officers, with their clerks; all post officers, and stage drivers, who are employed in the care and conveyance of the mail of the post office of the United States; all ferrymen employed at any ferry on the post road; all inspectors of exports; all pilots; all mariners, actually employed in the sea service of any citizen or merchant within the United States; and all persons who now are, or may hereafter be, exempted by the laws of the respective states, Shall be, and are hereby, exempted from militia duty, notwithstanding their being above the age of eighteen, and under the age of forty-five years.

References in periodicals archive ?
265(a)(2) disallows an interest deduction for debt recurred or continued to purchase or carry exempt obligations.
Generally, the interest disallowance provisions apply only when it can be demonstrated that a taxpayer's purpose in incurring or continuing debt is to purchase or carry exempt obligations.
However, certain taxpayers are required to apply a general, ratable interest allocation rule to determine the interest expense disallowed when purchasing or carrying exempt obligations.
2004-67 clarifies that if a specific transaction is exempt from book-tax difference reporting, future items reflecting that book-tax difference are also exempt (e.
2004-65 through 2004-68, which contain lists of transactions exempt from the reporting requirements.
274(e)(3) exempts expenses incurred under a reimbursement or other expense allowance arrangement.
274(e)(4) exempts expenses for recreational, social or similar activities for nonhighly compensated employees.
274(e)(7) exempts the costs of goods, services and facilities the taxpayer makes available to the general public.
Many organizations that are exempt from Title I of the Employee Retirement Income Security Act of 1974 (ERISA), and whose defined benefit and defined contribution plans are exempt from Sec.
For example, a church-run college or hospital may fit within this definition, if supported by facts, and thus may be exempt from the reporting and fiduciary requirements of Title I.
414(e), much like the ERISA definition, defines a church plan as a plan maintained by a church or convention or association of churches exempt from tax under Sec.
Trade associations, chambers of commerce, business leagues and similar organizations exempt from income taxation under Sec.