Definition of exemption
From Old and modern French exemption, or from Latin exemptio, from eximere
exemption (plural exemptions)
- An act of exempting.
- The state of being exempt; immunity.
- A deduction from the normal amount of taxes.
- Freedom from a defect or weakness.
An exemption such as a Tax exemption allows a certain amount of income or other value to be legally excluded to avoid or reduce taxation.
Exemption may also refer to:
- Exemption (church), an exemption in the Roman Catholic Church, that is the whole or partial release of an ecclesiastical person, corporation, or institution from the authority of the ecclesiastical superior next higher in rank
- grandfather clause, an exemption that allows a pre-existing condition to continue, even if such a condition is now prohibited from being begun anew
- exempt employee, is one who is exempt from the Fair Labor Standards Act, i. e. is not entitled to overtime pay and other worker's benefits stated in the FLSA
- Wiktionary. Published under the Creative Commons Attribution/Share-Alike License.