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FINDLAW LEGAL DICTIONARY

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Tax-Exempt

tax-exempt adj

1 : exempted from taxation
;also
: based on such exemption [ status]
2 : providing interest or income that is exempted from taxation [a municipal bond]



Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.