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tax exemption
(redirected from Tax Incentives)

   Also found in: Dictionary/thesaurus, Encyclopedia, Wikipedia 0.01 sec.
Tax Exempt
Describing income or organization that is not subject to taxation. Examples of tax exempt organizations include religious groups and charities. Additionally, certain income an individual or corporation derives may be tax exempt. For example, coupons from a municipal bond are tax exempt at the federal level. See also: Tax credit, tax deduction.

tax exemption

A reduction in the assessed rate of real property for purposes of calculating ad valorem taxes.Properties used for religious purposes usually have a 100 percent reduction,resulting in no tax liability. Additional exemptions might be granted for other uses, such as for a personal residence,timberland,or conservation land. One must generally apply for exemptions; they are not granted automatically.



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Bill Richardson, a champion of the film program, has said while some tax incentives for other industries should be looked at, the movie incentives should be kept in place.
A local architecture firm has partnered with an expert in tax code to design an office building that takes advantage of federal tax incentives.
Usually, tax incentives are not bargained for but are instead the result of state or local statutory tax provisions.
 
 
 
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