Exempt Individuals
Certain classes of persons may be granted a full or partial tax exemption within a system. Common exemptions are for veterans, clergymen or taxpayers with children (who can take "dependency exemption" for each qualifying dependent who has lived with the taxpayer. The dependent can be a natural child, step-child, step-sibling, half-sibling, adopted child, eligible foster child, or grandchild, and is usually under age 19, a full-time student under age 24, or have special needs). The exemption granted may depend on multiple criteria, including criteria otherwise unrelated to the particular tax. For example, a property tax exemption may be provided to certain classes of veterans earning less than a particular income level. Definitions of exempt individuals tend to be complex.
Read more about this topic: Tax Exemption
Famous quotes containing the words exempt and/or individuals:
“To be exempt from the Passions with which others are tormented, is the only pleasing Solitude.”
—Richard Steele (1672–1729)
“The people needed to be rehoused, but I feel disgusted and depressed when I see how they have done it. It did not suit the planners to think how they might deal with the community, or the individuals that made up the community. All they could think was, “Sweep it away!” The bureaucrats put their heads together, and if anyone had told them, “A community is people,” they would not have known what they were on about.”
—May Hobbs (b. 1938)