tax-exempt
adjective
TAX, GOVERNMENT ukus(also tax exempt)used to describe a product, service, or financial arrangement on which no tax is paid:
The poorest families pay no grocery tax because their food stamp purchases are tax exempt.
tax-exempt income/contribution The savings account will be limited to €50,000 for tax-exempt contributions.
a tax-exempt bond/fund/plan
used to describe an organization that does not have to pay tax:
The federal tax code prohibits using income and assets from tax-exempt organizations for personal gain.
tax-exempt status
the condition of being tax-exempt:
The settlement preserved the tax-exempt status of the bonds issued, thereby protecting investors.
We are studying the impact of the federal tax-exempt status provided to college athletic departments.