Tax-Exempt Income

(redirected from Tax Free Incomes)

Tax-exempt income

Dividends and interest not subject to federal and, in some cases, state and local income taxes.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Tax-Exempt Income

Income that by law is not subject to income tax.
Copyright © 2008 H&R Block. All Rights Reserved. Reproduced with permission from H&R Block Glossary