Tax-Exempt Income

(redirected from Tax Free Income)

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.
References in periodicals archive ?
During the second quarter of 2015 Southern recorded USD555,000 of tax free income from death benefits on bank owned life insurance policies.
ISAs are free from capital gains tax and further income tax and can provide you with a great source of tax free income.
So, even though you are allowed a certain amount of tax free income under the scheme, you are not permitted to claim any expenses relating to the letting, like wear and tear, insurance, heating and lighting, or any other services you might provide for your lodger, like meals or laundry.
KARACHI -- The head of Pakistan's cricket board Thursday offered foreign players insurance worth $2 million and up to $100,000 tax free income in a bid to lure them to join the troubled country's new Twenty20 league.
The combination of tax relief on the way in and tax free income on the way out means that pensions and ISAs dovetail nicely.
Tax free income Under the Government rent-a-room scheme you can earn up to pounds 4,250 per year (just over pounds 350 per month) tax-free.
Income protection policies aim to help you and your family financially from the effects of long-term illness or accident by providing you with a tax free income in the event of illness.
Marginal relief by Rs20,000, bringing down the age limit of senior citizens to 60 years and increasing the tax free income to Rs250,000 are welcome moves.
Warrington hailed the infrastructure and facilities at the zone and the benefits it offers to investors such as tax free income, repatriation of capital and 100 per cent ownership of businesses.
You won't have to pay tax if your annual income is below your personal allowance - that's your tax free income.
These are designed to produce a high level of tax free income - currently you can get up to around 8.5 per cent net which is substantially higher than a deposit account.
INCOME: Can receive regular tax free income monthly.