nontaxable

Thân thiện

The charity receives a nontaxable donation from a generous supporter.

Definition

Adjective: 1. Not subject to taxation; exempt from tax: Describes goods, income, or funds that are legally excluded from the requirement to pay tax.

Usage

The adjective "nontaxable" is used to modify a noun, indicating that the item or amount described is not liable for tax. It is commonly used in financial, legal, and accounting contexts.

Examples

• Adjective:
  • Interest from municipal bonds is often nontaxable at the federal level.
  • The inheritance was nontaxable under state law.
  • She received a nontaxable allowance for work-related expenses.

Advanced Usage

• "nontaxable income": A specific category of earnings that does not need to be reported for tax purposes.
  • Child support payments are considered nontaxable income for the recipient.
• "nontaxable status": The condition of being exempt from taxes.
  • The organization applied for nontaxable status as a registered charity.

Variants and Related Words

• Tax-exempt (adj): A direct synonym, often used interchangeably with "nontaxable."
  • Tax-exempt bonds are popular with investors in high tax brackets.
• Exempt (adj): More general; can mean free from an obligation, rule, or liability, including taxes.
  • Goods exported are usually exempt from sales tax.

Synonyms

• Tax-exempt
• Exempt (from tax)
• Duty-free (specifically for goods)

Antonyms

• Taxable
• Assessable
• Dutiable

Học thuật

Adjective

1. (of goods or funds) not subject to taxation
   • the funds of nonprofit organizations are nontaxable
   • income exempt from taxation

Từ đồng nghĩa

• exempt