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Exemption may refer to: . Tax exemption, which allows a certain amount of income or other value to be legally excluded to avoid or reduce taxation; Exemption (Catholic canon law), 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
Tax exemption generally refers to a statutory exception to a general rule rather than the mere absence of taxation in particular circumstances, otherwise known as an exclusion. Tax exemption also refers to removal from taxation of a particular item rather than a deduction. International duty free shopping may be termed "tax-free shopping". In ...
On the other hand, a nonprofit organization may have a perpetual care fund without jeopardizing its exemption under Section 501(c)(13). [ 119 ] A cemetery that owns or operates a morgue , whether on its own grounds or elsewhere, is not eligible under 501(c)(13) because the Internal Revenue Service does not consider mortuary services necessarily ...
For example, Texas offers a wide range of property tax exemptions to residents ages 65 and older, including an exemption from school district and county taxes and an additional $10,000 residence ...
Program name: Dependent Exemption Tax Credit. Refundable: Yes. Tax credit amount: $300 per qualifying child. Eligibility: Have child under the age of 17. Maryland. Program name: Child Tax Credit ...
Most sovereign states have alternative names. Some countries have also undergone name changes for political or other reasons. Some have special names particular to poetic diction or other contexts. This article attempts to give all known alternative names and initialisms for all nations, countries, and sovereign states, in English and any ...
Under United States tax law, a personal exemption is an amount that a resident taxpayer is entitled to claim as a tax deduction against personal income in calculating taxable income and consequently federal income tax. In 2017, the personal exemption amount was $4,050, though the exemption is subject to phase-out limitations.
Homestead exemptions are only available on an individual's primary home. Therefore, this exemption does not apply to businesses, rental property, second homes, homeowners claiming permanent residency-based exemptions or tax credits in other states, or homes with owners that do not claim Florida as their primary residence.