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exemption

Syllabification: ex·emp·tion
Pronunciation: /iɡˈzem(p)SH(ə)n
 
/

Definition of exemption in English:

noun

1The process of freeing or state of being free from an obligation or liability imposed on others: exemption from prescription charges regulatory exemptions
More example sentences
  • I propose to grant full exemption from tax to the income of this Trust.
  • Woodland enjoys several tax breaks, including exemption from inheritance tax after two years.
  • They cannot claim income tax exemption from the money they earn from doing live concerts.
Synonyms
immunity, exception, dispensation, indemnity, exclusion, freedom, release, relief, absolution
1.1 (also personal exemption) The process of exempting a person from paying taxes on a specified amount of income for themselves and their dependents.
Example sentences
  • When first enacted, the income tax provided a personal exemption of $4,000 for a married couple, an amount almost 12 times the average income of married couples then.
  • For 2001, the amount of the dependent exemption is $2,900 per child, the same amount as your personal exemption.
  • The mismatches could present a problem for taxpayers seeking to claim a personal exemption or the earned income tax credit.
1.2US An item or amount exempted: a series of exemptions from the partnership tax rules
More example sentences
  • Make sure you type in exemptions, not dependents, or the program won't work, Burlison says.
  • If you claim too many exemptions, you could end up with a big, ugly tax bill in April.
  • Epps says by changing her exemptions from three to two, she could get more of her money now instead of later.

Origin

late Middle English: from Old French, or from Latin exemptio(n-), from eximere 'take out, free'.

Words that rhyme with exemption

pre-emption, redemption

Definition of exemption in:

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