exemption
- This is the process by which a person, object, or event becomes free from an obligation, rule, or consequence
- It refers to a person, object, or event that has been made free from an obligation, rule, or consequence
- It is a specified amount of income that one does not have to pay taxes on, according to tax laws
- It is the legal right to protect certain types of property from becoming part of a bankruptcy estate, as stipulated by federal and state laws
- The non-profit organization applied for an exemption from property taxes.
- Due to her low income, she was granted an exemption from paying federal income tax.
- After filing for bankruptcy, the individual claimed an exemption for his primary residence.
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