tax-exempt
- A term used to describe someone or something that is not obligated to pay taxes
- A quality of certain types of income or interest that makes them free from taxation
- After qualifying as a nonprofit organization, they became tax-exempt and no longer faced the burden of annual income tax.
- Certain government bonds are tax-exempt, allowing investors to keep all the interest they earn.
- Even though the community center is tax-exempt, it still must keep accurate financial records.
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