Printer Friendly
Dictionary, Encyclopedia and Thesaurus - The Free Dictionary
3,589,786,552 visitors served.
forum Join the Word of the Day Mailing List For webmasters
?
Dictionary/
thesaurus
Medical
dictionary
Legal
dictionary
Financial
dictionary
Acronyms
 
Idioms
Encyclopedia
Wikipedia
encyclopedia
?

Tax-Exempt Income

    0.01 sec.
Tax-exempt income
Dividends and interest not subject to federal and, in some cases, state and local income taxes.

Tax-Exempt Income
Income that is not subject to taxation. Additionally, certain income an individual or corporation derives may be tax exempt, even though the individual or corporation would owe taxes otherwise. For example, coupons from a municipal bond are tax exempt at the federal level. See also: Tax credit, tax deduction.

Tax-Exempt Income
Income that by law is not subject to income tax.


How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content.
?Page tools
Printer friendly
Cite / link
Feedback
Add definition
Mentioned in?  References in periodicals archive?   Financial browser?   Full browser?
 
When filing their 2001 federal income tax returns, each brother increased his loan basis by $718,624 (the amount of their 2001 capital contributions) on the theory the capital contributions were an item of income under section 1367--in other words, tax-exempt income.
1366(a)(2)(viii) recently was amended to specifically state that the COD income is not tax-exempt income.
 
 
 
Financial Dictionary
?

Terms of Use | Privacy policy | Feedback | Copyright © 2012 Farlex, Inc.
Disclaimer
All content on this website, including dictionary, thesaurus, literature, geography, and other reference data is for informational purposes only. This information should not be considered complete, up to date, and is not intended to be used in place of a visit, consultation, or advice of a legal, medical, or any other professional.