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- Dictionaryex·emp·tion/iɡˈzem(p)SH(ə)n/
noun
- 1. the process of freeing or state of being free from an obligation or liability imposed on others: "exemption from prescription charges"
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noun. the circumstances of a taxpayer, such as their age or number of dependents, that allow them to make certain deductions from taxable income. the act of exempting. the state of being exempted; immunity.
ex·emp·tion. (ĭg-zĕmp′shən) n. 1. a. The act or an instance of exempting. b. The state of being exempt; immunity. 2. An exception to the ordinary operation of law, as: a. An exception of certain property from bankruptcy or taxation. b.
Mar 24, 2011 · an exemption is left out of the set by an authority or man-made rule. For example, a tax exemption, is money you received but does not have to be counted as part of our income because the tax laws explicitly say it's OK to ignore (presumably with the law created for some economic incentive purpose).
EXEMPT definition: 1. to excuse someone or something from a duty, payment, etc.: 2. with special permission not to do…. Learn more.
Definitions of 'exemption' 1. an exempting or being exempted; freedom or release from a liability, obligation, etc.; immunity. [...] 2. a. the exempting from an individual's taxable income of a specified sum for the taxpayer and each dependent. [...] b. the sum specified. [...] c. any such dependent. [...] More. Synonyms of 'exemption'
Exemption implies release or privileged freedom from some duty, tax, etc.: exemption from military service. Immunity implies freedom from a penalty or from some liability, esp. one that is disagreeable or threatening: immunity from disease.
If someone or something is exempt from a particular rule, duty, or obligation, they do not have to follow it or do it.
So if you are exempt, you are free of an obligation that others have to fulfill, such as paying taxes. But you can also be exempt from having to obey certain rules, like seniors being exempt from having to sell candy bars for a school fundraiser.
EXEMPT meaning: 1. to excuse someone or something from a duty, payment, etc.: 2. with special permission not to do…. Learn more.
Exemption is a legal term that refers to a special privilege or freedom from certain requirements or obligations. In other words, it's a way for someone to be excused or excluded from something that would normally apply to them. Imagine you have to pay taxes on your income every year.
