FindLaw Legal Dictionary
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tax shelter n: an entity (as a partnership) or investment plan or arrangement whose principal purpose is the avoidance or evasion of income tax
: an interest offered or purchased on the premise that it will provide favorable tax consequences [purchased limited partnership tax shelters]
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.