exemption

American  

[ig-zemp-shuhn] / ɪgˈzɛmp ʃən /

noun

1. the circumstances of a taxpayer, such as their age or number of dependents, that allow them to make certain deductions from taxable income.

2. the act of exempting.

3. the state of being exempted; immunity.

   Synonyms:

   exception

   Antonyms:

   liability

---

Related Words

Exemption, immunity, impunity imply special privilege or freedom from imposed requirements. Exemption implies release or privileged freedom from some duty, tax, etc.: exemption from military service. Immunity implies freedom from a penalty or from some liability, especially one that is disagreeable or threatening: immunity from disease. Impunity (limited mainly to the fixed expression with impunity ) primarily suggests freedom from punishment: The police force was so inadequate that crimes could be committed with impunity.

Other Word Forms

• exemptive adjective
• nonexemption noun
• preexemption noun

Etymology

Origin of exemption

First recorded in 1350–1400; late Middle English, from Middle French, from Latin exemptiōn- (stem of exemptiō ) “removal.” See exempt, -ion

Example Sentences

Under these deals, manufacturers have agreed to set certain U.S. drug prices no higher than those paid in other wealthy nations in exchange for three-year tariff exemptions.

From Los Angeles Times

The U.S. will now release any holds on sanctions exemptions, according to people familiar with the matter, paving the way for international assistance.

From The Wall Street Journal

To be sure, cybersecurity experts expect some automakers and suppliers to get temporary exemptions from the software ban if they show they have addressed risks in other ways.

From The Wall Street Journal

The argument advanced by the IRS is a formalistic one that results in an absurdity: Cryptocurrency wasn’t explicitly included in the list of items that meet the “readily valued property” exemption to the appraisal rules.

From The Wall Street Journal

These platforms replicate core financial functions—exchanging assets, providing liquidity, settling trades—while claiming exemption from the obligations that accompany those functions elsewhere.

From Barron's

Related Words

• discharge
• dispensation
• exception
• immunity
• privilege