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Simple English definitions for legal terms

tax-exempt

Read a random definition: research and development

A quick definition of tax-exempt:

Tax-exempt means that something is not subject to taxation by law. This can apply to things like charities or certain types of bonds. It can also mean that the interest earned on an investment is not subject to income tax. In simpler terms, tax-exempt means you don't have to pay taxes on it.

A more thorough explanation:

Definition: Tax-exempt means that something is not subject to taxation by law. For example, a tax-exempt charity does not have to pay taxes on the money it receives. Another example is tax-exempt municipal bonds, which means the interest earned on these bonds is not subject to income tax.

Examples:

  • A non-profit organization that is recognized as tax-exempt by the IRS does not have to pay taxes on the donations it receives.
  • Investing in tax-exempt municipal bonds can be a good way to earn interest without having to pay income tax on that interest.

The examples illustrate that tax-exempt status can apply to different types of entities, such as non-profit organizations and investments. In both cases, the benefit of being tax-exempt is that the entity does not have to pay taxes on certain types of income, which can save them money.

tax-deferred | tax ferret

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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