What's the difference between exemption and tax?

Exemption


Definition:

  • (n.) The act of exempting; the state of being exempt; freedom from any charge, burden, evil, etc., to which others are subject; immunity; privilege; as, exemption of certain articles from seizure; exemption from military service; exemption from anxiety, suffering, etc.

Example Sentences:

  • (1) But on June 29, 2011, Lois G Lerner, who heads the IRS division that oversees tax-exempt organizations, learned at a meeting that groups were being targeted, according to the watchdog's report.
  • (2) The chancellor confirmed he would bring in a welfare cap of £119.5bn, with the state pension and unemployment benefits exempted from this.
  • (3) As he told us: 'Individual faults and frailties are no excuse to give in and no exemption from the common obligation to give of ourselves.'
  • (4) However, an exemption in the MPA allows people from the US nuclear base on Diego Garcia to continue fishing.
  • (5) However, the 1916 Irish Easter Rising would be exempt.
  • (6) Relief on contributions, national insurance, tax-exempt lump sums and others amounts to a phenomenal £48.4bn a year.
  • (7) It had originally said anyone earning more than €500,000 (£410,000) a year would fall under the cap but has now exempted them if they are not taking or managing risk.
  • (8) The relative efficiency of investor-owned and tax-exempt hospitals in the product market for hospital services is examined as the free cash flow theory is used to explore capital-market conditions of hospitals.
  • (9) Asked whether the US tax code was convoluted and difficult to understand partly because of lobbying by companies including Apple for exemptions, Cook replied: "No doubt."
  • (10) The proposed exemption would be available to private companies that are based in Australia.
  • (11) "If at any time we had been presented with a scheme that in any way amounted to immunity, exemption or amnesty we would have stopped that scheme - consistent with our opposition to the previous Government's Northern Ireland (Offences) Bill in 2005."
  • (12) The Federal Aviation Administration (FAA) may choose to provide exemptions for studios hoping to use the technology for artistic purposes.
  • (13) The exemption for the McAllen clinic lasts only until another licensed abortion facility opens in a location closer to the Rio Grande Valley than San Antonio.
  • (14) It’s also a legal authority that is exempt from oversight by Congress or the secretive Foreign Intelligence Surveillance Court, meaning we know even less about it than the other NSA powers that have been dripping out over the last year and a half.
  • (15) The 2 types of exemptions proposed were: 1) allowing pharmacists to provide a prescription-only drug in an emergency with the doctor providing a prescription within 72 hours, and 2) allowing pharmacists to provide a 3-day emergency supply of drugs previously ordered by a physician.
  • (16) However, those who volunteer for charity or a government body can be exempted.
  • (17) Further, he suggests that there are theoretical reasons why one could expect that one set of circumstances--those which typically apply in the short-term emergency commitment of mentally ill persons predicted to be imminently violent--may be exempt from the systematic inaccuracy found in the current research.
  • (18) "It is my intention to release every part of every paper of interest subject only to legal exemptions."
  • (19) A spokesman for Turnbull said on Monday night Turnbull and Partners Holdings had been used for other investments more recently, but the prime minister would now write to ask that it be removed from the Asic exemption list.
  • (20) Instances in which investigational use would require application to the FDA for an investigational New Drug Exemption (IND) and instances in which their use would require approval by an Institutional Review Board (IRB) will be described and examples given.

Tax


Definition:

  • (n.) A charge, especially a pecuniary burden which is imposed by authority.
  • (n.) A charge or burden laid upon persons or property for the support of a government.
  • (n.) Especially, the sum laid upon specific things, as upon polls, lands, houses, income, etc.; as, a land tax; a window tax; a tax on carriages, and the like.
  • (n.) A sum imposed or levied upon the members of a society to defray its expenses.
  • (n.) A task exacted from one who is under control; a contribution or service, the rendering of which is imposed upon a subject.
  • (n.) A disagreeable or burdensome duty or charge; as, a heavy tax on time or health.
  • (n.) Charge; censure.
  • (n.) A lesson to be learned; a task.
  • (n.) To subject to the payment of a tax or taxes; to impose a tax upon; to lay a burden upon; especially, to exact money from for the support of government.
  • (n.) To assess, fix, or determine judicially, the amount of; as, to tax the cost of an action in court.
  • (n.) To charge; to accuse; also, to censure; -- often followed by with, rarely by of before an indirect object; as, to tax a man with pride.

Example Sentences:

  • (1) Virtually every developed country has some form of property tax, so the idea that valuing residential property is uniquely difficult, or that it would be widely evaded, is nonsense.
  • (2) Not only do they give employers no reason to turn them into proper jobs, but mini-jobs offer workers little incentive to work more because then they would have to pay tax.
  • (3) Paradoxically, each tax holiday increases the need for the next, because companies start holding ever greater amounts of their tax offshore in the expectation that the next Republican government will announce a new one.
  • (4) But the wounding charge in 2010 has become Brown's creation of a structural hole in the budget, more serious than the cyclical hit which the recession made in tax receipts, at least 4% of GDP.
  • (5) We want to be sure that the country that’s providing all the infrastructure and support to the business is the one that reaps the reward by being able to collect the tax,” he said.
  • (6) Meanwhile, reductions in tax allowances on dividends for company shareholders from £5,000 down to £2,000 represent another dent to the incomes of many business owners.
  • (7) Brown's model, which goes far further than those from any other senior Labour figure, and the modest new income tax powers for Holyrood devised when he was prime minister, edge the party much closer to the quasi-federal plans championed by the Liberal Democrats.
  • (8) Writing in the Observer , Schmidt said his company's accounts were complicated but complied with international taxation treaties that allowed it to pay most of its tax in the United States.
  • (9) "There is a serious risk that a deal will be agreed between rich countries and tax havens that would leave poor countries out in the cold.
  • (10) Photograph: Guardian The research also compiled data covered by a wider definition of tax haven, including onshore jurisdictions such as the US state of Delaware – accused by the Cayman islands of playing "faster and looser" even than offshore jurisdictions – and the Republic of Ireland, which has come under sustained pressure from other EU states to reform its own low-tax, light-tough, regulatory environment.
  • (11) Cameron also used the speech to lambast one of the central announcements in the budget - raising the top rate of tax for people earning more than £150,000 to 50p from next year.
  • (12) It ignores the reduction in the wider, non-NHS cost of adult mental illness such as benefit payments and forgone tax, calculated by the LSE report as £28bn a year.
  • (13) The issue has been raised by an accountant investigating the tax affairs of the duchy – an agricultural, commercial and residential landowner.
  • (14) Proposals to increase the tax on high-earning "non-domiciled" residents in Britain were watered down today, after intense lobbying from the business community.
  • (15) We know that several hundred thousand investors are likely to want to access their pension pots in the first weeks and months after the start of the new tax year.
  • (16) Profit for the second quarter was £27.8m before tax but the club’s astronomical debt under the Glazers’ ownership stands at £322.1m, a 6.2% decrease on the 2014 level of £343.4m.
  • (17) "The Republic genuinely wishes Northern Ireland well and that includes the 12.5% corporate tax rate," he said.
  • (18) Initial analysis suggests that about one-fifth of gross costs would be directly returned to the public purse via income tax and national insurance payments.
  • (19) Gordon Brown believes that the fact of the G20 summit has persuaded many tax havens, such as Switzerland and Liechtenstein, to indicate that they will adopt a more open approach.
  • (20) This includes cutting corporation tax to 20%, the lowest in the G20, and improving our visa arrangements with a new mobile visa service up and running in Beijing and Shanghai and a new 24-hour visa service on offer from next summer.

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