tax-exempt tax-free
nontaxable ontaxable adj. Not subject to taxation; -- of goods imported into a country or sold at retail outlets; as, most laws imposing sales taxes make food nontaxable. Opposite of {taxable}. [Narrower terms: {duty-free}; {tax-exempt, tax-free}; {unratable}; {untaxed ] Also See: {exempt}. [WordNet 1.5]

The Collaborative International Dictionary of English. 2000.

Look at other dictionaries:

  • tax-exempt — I noun a security that is not subject to taxation • Syn: ↑tax exempt security • Hypernyms: ↑security, ↑certificate II adjective (of goods or funds) not taxed (Freq. 1) …   Useful english dictionary

  • tax exempt special savings scheme — (TESSA) A special bank or building society savings account that offered tax free interest provided that the account was maintained for a fixed period of five years. TESSAs were replaced by individual savings accounts (ISAs) from 6 April 1999… …   Law dictionary

  • Tax-Exempt Security — A security in which the income produced is free from federal, state and local taxes. Most tax exempt securities come in the form of municipal bonds, which represent obligations of a state, territory or municipality. For some investors, U.S.… …   Investment dictionary

  • Tax-Exempt Special Savings Account — In the UK, the Tax Exempt Special Savings Account (TESSA) was one of a number tax free savings accounts. The TESSA was announced by John Major in his only Budget as Chancellor of the Exchequer in 1990 ( a budget for savings ). The TESSA was… …   Wikipedia

  • tax-exempt income — dividends and interest not subject to federal and, in some cases, state and local income taxes. Bloomberg Financial Dictionary * * * tax exempt income tax exempt income ➔ income * * * tax exempt income UK US noun [C or U] (also tax free income)… …   Financial and business terms

  • Tax Exempt — To be free from, or not subject to, taxation by regulators or government entities. A tax exempt entity can be excused from a single or multiple taxation laws. Governments are often trying to encourage investment when exempting taxation. Certain… …   Investment dictionary

  • Tax-Exempt Sector — The market niche comprised of investment vehicles exempt from federal taxes. Nearly all investments in this area are municipal bonds, which cannot be taxed owing to the fact that U.S. law forbids the federal government from taxing debt issues… …   Investment dictionary

  • tax-exempt — adjective Date: 1923 1. exempted from a tax 2. bearing interest that is free from federal or state income tax …   New Collegiate Dictionary

  • Tax Exempt Special Savings Account — ( TESSA) A savings account which generates tax free interest for the investor. The account must be kept open for five years, at which time it must expire. The maximum amount that may be invested in the account is £9,000 in total over the five… …   Financial and business terms

  • tax-exempt special savings account — /tæks ɪgˌzempt ˌspeʃ(ə)l seɪvɪŋz əˌkaυnt/ noun formerly, an account into which money can be placed to earn interest free of tax, provided it is left untouched for five years. Abbreviation TESSA …   Dictionary of banking and finance

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