tax-free status
No levies owed
Tax-free status is an official designation exempting an organization or investment from certain taxes.
Nonprofits, charities, and religious institutions often hold tax-free status, meaning donations to them may be tax-deductible and their income isn't taxed.
Investments like municipal bonds offer tax-free status on their interest.
The university's tax-free status was threatened after the political controversy.
- municipal bondsLocal government debt securities
- tax exemptFree from fiscal obligation
- health savings accountTax-sheltered medical spending fund
- charitiesGroups aiding the needy
- nonprofit organizationsGroups without profit motive
religious institutions · Roth IRA · retirement savings · estate planning · cooperatives · 501(c)(3) · foundations · public schools · educational institution · tax shelters · offshore accounts · tax haven · credit unions · tribal governments · government agencies · treasury securities · international organizations · tax credits
tax-free statustaxed
Had levy imposed
taxable · tax liability · taxable income · assessable · dutiable
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