exemption

Exemption is defined as freedom from an obligation, duty or consequence.

(noun)

When everyone else is required to attend a meeting and you don't have to attend, this is an example of a situation where you have an exemption.

See exemption in Webster's New World College Dictionary

noun

an exempting or being exempted; freedom or release from a liability, obligation, etc.; immunity
1. the exempting from an individual's taxable income of a specified sum for the taxpayer and each dependent
2. the sum specified
3. any such dependent

Origin: ME exempcioun < OFr exemption < L exemptio

See exemption in American Heritage Dictionary 4

noun

The act or an instance of exempting.
The state of being exempt; immunity.
One that is exempted, especially an amount of income that is exempted from taxation.

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