exempt

(redirected from exempts)
Also found in: Dictionary, Thesaurus, Medical, Legal.

exempt from (something)

1. verb To allow or permit oneself or someone to not do something. In this usage, a noun or pronoun is used between "exempt" and "from." It's very convenient that the mayor exempts his relatives from these taxes, while the rest of us have to pay.
2. adjective Allowed or permitted to not do something. It's very convenient that the mayor's relatives are exempt from these taxes, while the rest of us have to pay.
See also: exempt

exempt someone from something

to release someone from the obligation to do something; to allow a person not to be affected by a rule or law. I cannot exempt anyone from this rule. The members of Congress exempted themselves from the wage freeze.
See also: exempt
References in periodicals archive ?
57" that members of Congress would "make no law which will not have its full operation on themselves and their friends, as well as on the great mass of society." Exempt the ruling class, Madison said, and "every government degenerates into tyranny."
The key elements of the proposal are these: (i) the current (general) exemption from information reporting for payments to corporate service providers would be lifted, but (ii) the IRS would retain authority to exempt certain types of payments or types of payees where exemption would not undermine compliance.
Vernon, Greenburgh, Larchmont, Mamaroneck Village, Tarrytown and White Plains have exempted single unit owners from ETPA rule.
The repairs and patches to software do not affect the exempt nature of the original software transaction if electronically delivered.
2004-66 updates the list of exempted transactions in this category that was previously contained in Rev.
274(e)(7) exempts the costs of goods, services and facilities the taxpayer makes available to the general public.
Many individuals not exempt from FICA under the Code or by virtue of a totalization agreement may still be able to escape paying FICA under the provisions of one of the many income tax treaties that the U.S.
The exempt organization should have the first right to acquire the LLC's assets and property.
414(e), much like the ERISA definition, defines a church plan as a plan maintained by a church or convention or association of churches exempt from tax under Sec.
"Exempt related person interest expense" is interest expense subject to a zero rate of tax or a reduced rate of U.S.
265(a)(2) disallows an interest deduction for debt recurred or continued to purchase or carry exempt obligations.
Trade associations, chambers of commerce, business leagues and similar organizations exempt from income taxation under Sec.
The IRS and exempt organizations have been engaged in a longrunning dispute over "royalty" income.
Securities lenders from countries that have treaties with the United States containing a provision to exempt "other income" from source country taxation (most notably, the United Kingdom) may have small window in which to avoid U.S.
After a period of reflection, the IRS has ruled that income earned on interest rate swaps and currency swaps by exempt organizations will not be subject to the unrelated business income tax (UBIT).