exemption

(redirected from exemptions)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.
Related to exemptions: Personal Exemptions, Tax Exemptions

exemption

n. 1) in income taxation, a credit given for each dependent, blindness or other disability, and age over 65, which result in a downward calculation in tax levels. These are not to be confused with deductions which reduce gross income upon which taxes are paid. 2) a right to be excluded from, such as not being subject to attachment of one's wages if one is in a low-income bracket, or not being subject to the military draft if one is employed in essential industry, has several children or is a college student.

exemption

noun allowance, discharge, exception, freedom, freedom from duty, freedom from liability, freedom from obligation, freedom from reeuirements, freedom from service, immunitas, immunity, liberation, liberty, license, permit, privilege, release, release from liability, release from obligation, special privilege, vacuitas
Associated concepts: exemption from jury service, exemppion from sale, exemption statute, homestead exemption, personal exemption, tax exemption
See also: clause, clemency, condition, condonation, discharge, dispensation, exception, exclusion, excuse, franchise, freedom, grace period, immunity, impunity, leave, liberation, license, permission, privilege, probation, qualification, release, remission, reprieve, reservation, respite, salvo

EXEMPTION. A privilege which dispenses with the general rule; for example, in Pennsylvania, and perhaps in all the other states, clergymen are exempt from serving on juries. Exemptions are generally allowed, not for the benefit of the individual, but for some public advantage.

References in periodicals archive ?
Senator Wahab said the government did not either fulfil the conditions laid out in the law for approving tax exemptions.
He estimated that if the VAT is at 10 percent and there are no exemptions, the government could easily collect P1.
Do exemptions apply for the holder's specific business type--telecommunications, financial, or health care, for example?
Also included in this category are the customs duty exemptions on the import of equipment and material for Lahore`s Orange Line Metro Train Project.
Furthermore, and most significantly, even if one is able to qualify for an exemption on a federal and state level, many of those exemptions are only from registration and do not eliminate the requirement that the franchisor disclose an FDD to a prospect, thus frequently eliminating the primary advantage of an exemption-based program.
AUVSI analyzed the first 3,136 exemptions approved by the FAA.
The tax department has already come out with a draft road map for phasing out tax exemptions and the final road map would be unveiled in Budget.
That's because of a new state law, enacted by the Legislature in 2014, that limits parents' abilities to seek nonmedical vaccination exemptions for their children.
In addition, Florida residents are entitled to other exemptions that can be generally found in F.
Illinois, Kansas, Maryland, and Virginia have similar complete B2B exemptions (765 Ill.
She said the old waste exemptions have been replaced by a completely new list of exempt waste activities and are now grouped into five categories: non-registerable exemptions - also known as Non-Waste Framework, directive exemptions, which don't have to be registered; use of waste - U; treatment of waste - T; disposal of waste - D; and storage of waste - S.
FARMERS must register their agricultural waste exemptions before the end of September or it will be assumed they are not required, says farm business consultancy Strutt & Parker.