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LSDefine

Simple English definitions for legal terms

exemption

Read a random definition: mutuary

A quick definition of exemption:

Exemption: Exemption means you don't have to do something or pay something that others have to. For example, you might be exempt from paying taxes on certain things or exempt from being drafted into the military. In some cases, you might be allowed to keep certain things even if you owe money or are going through bankruptcy. In tax law, exemption means you can take a certain amount of money off your income before you have to pay taxes on it.

A more thorough explanation:

Exemption is a legal term that means you are immune or exempt from certain duties or requirements. For example, you might be exempt from paying taxes on a certain type of income or from serving in the military.

One example of an exemption is a debtor's exemption. This is a privilege that allows someone who owes money to keep certain property from being taken away to pay off their debt. For instance, if someone owes money to a creditor, they might be able to keep their car or their house if those things are considered exempt.

In tax law, an exemption is an amount of money that you can deduct from your income before you calculate how much tax you owe. For example, if you make $50,000 a year and you have a $5,000 exemption, you would only have to pay taxes on $45,000 of your income.

Overall, an exemption is a way to give people a break from certain legal requirements or obligations. It can help protect their property, reduce their tax burden, or give them other benefits.

exempt property | exemption trust

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18:41
I think I just wouldn’t reach out and if they ask for them then say that
Dkk
18:41
@tgm Yeah sounds good, say that if they ask
18:47
hey yall
18:47
im premed idk why im here
18:48
we’re like cool and sexy and fun I get it
18:48
true i love ur user
18:49
thank you my little crow friend
Dkk
18:50
Med law easy done
medicine is a scam
join the ethically ambiguous legal field instead
Dkk
18:57
I want to meet an attorney that defends clients who run into flat earth problems. I want an attorney that knows and believes in flat earth theory.
19:05
i want a flat earther for president. i want a guy who posts on 4chan for president. i want someone who mogs for president.
Dkk
19:18
Exactly. My version of that awful poem.
Dkk
19:19
I can accept a president with maybe one or two of the poems traits hut good God, all of them??? No ty.
windyMagician
19:20
president who respects sex is crazy
windyMagician
19:20
we had bill clinton already
Dkk
19:21
Bill Clinton, first and last black president
windyMagician
19:23
I want to go running but my leg feels weird
windyMagician
19:23
it doesn't hurt its just tingly
Dkk
19:26
It needs more alcohol. You tingle when your nerves need watering.
19:27
try stretching it maybe to see what's up
windyMagician
19:27
stretches make me think it's just soreness
windyMagician
19:27
I'm sober lol
Dkk
19:38
Anyone else get the google notification that your LSD password has been compromised lol. LSD got hacked.
20:48
what.jpg @Dkk
CynicalOops
21:03
You think you just fell out of a coconut tree?
jackfrost11770
21:10
nope dk
CynicalOops
22:37
Calvinamala Harris
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