Definition
An exemption is income or property excluded from taxation or legal action.
Why It Matters
Exemptions reduce tax burdens or protect assets.
Example
Claiming a tax exemption on a return.
Malone Global University
Malone Global University
Economics Glossary – Malone Global University
An exemption is income or property excluded from taxation or legal action.
Exemptions reduce tax burdens or protect assets.
Claiming a tax exemption on a return.