tax-free income

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.

tax-free income

The income received but not subject to income taxes. For example, interest from most municipal bonds is free of federal income taxes and often from state and local income taxes as well. Compare tax-deferred income, tax-sheltered income.

单词	tax-free income
释义	tax-free income 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. tax-free income The income received but not subject to income taxes. For example, interest from most municipal bonds is free of federal income taxes and often from state and local income taxes as well. Compare tax-deferred income, tax-sheltered income.
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