Look up: tax-exempt

1. Tax Exempt
   Refers to income or property which is not subject to tax. Interest on Municipal bond is not subject to federal income tax. Similarly, interest on a treasury bond is not subject to state or local income taxes.
   Found on http://www.oasismanagement.com/glossary/
   
   
2. Tax Exempt
   Referring to income which is not liable for tax in the hands of the recipient. Referring to a fund which does not incur tax on its income, by virtue of its beneficiaries being a specialised class of persons, e.g. a charitable organisation.
   Found on http://www.skandia.co.uk/glossary/index.
   
   
3. Tax Exempt
   Refers to income or property which is not subject to tax. Interest on Municipal bond is not subject to federal income tax. Similarly, interest on a treasury bond is not subject to state or local income taxes.
   Found on http://www.oasismanagement.com/glossary/
   
   
4. tax-exempt
   [adj] - (of goods or funds) not taxed
   Found on http://www.webdictionary.co.uk/definitio
   
   
5. tax-exempt
   tax-free adjective (of goods or funds) not taxed; `tax-exempt bonds`; `an untaxed expense account`
   Found on http://wordnetweb.princeton.edu/perl/web