Exemption meaning

ĭg-zĕmp'shən
The state of being exempt; immunity.
noun
1
0
Exemption is defined as freedom from an obligation, duty or consequence.

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.

noun
0
0
An exception to the ordinary operation of law, as:
  • An exception of certain property from bankruptcy or taxation.
  • The deduction of a certain amount in the computation of net income with regard to taxation, allowed for an individual, that individual's dependents, and certain characteristics, such as blindness or age.
  • Excuse from performance of a legal duty, such as release from serving in the military or as a juror.
noun
0
0
An exempting or being exempted; freedom or release from a liability, obligation, etc.; immunity.
noun
0
0
The exempting from an individual's taxable income of a specified sum for the taxpayer and each dependent.
noun
0
0
Advertisement
The sum specified.
noun
0
0
Any such dependent.
noun
0
0
The state of not being subject to a responsibility held by others; in taxes, an amount subtracted from gross income to determine taxable income.
noun
0
0
An act of exempting.
noun
0
0
The state of being exempt; immunity.
noun
0
0
Advertisement
A deduction from the normal amount of taxes.
noun
0
0
noun
0
0
The act or an instance of exempting.
noun
0
1

Origin of exemption

From Old French exemption, from Latin exemptio, from eximere