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:
“There is nothing exempt from the peril of mutation; the earth, heavens, and whole world is thereunto subject.”
—Sir Walter Raleigh (1552–1618)
“[Government’s] true strength consists in leaving individuals and states as much as possible to themselves—in making itself felt, not in its power, but in its beneficence, not in its control, but in its protection, not in binding the states more closely to the center, but leaving each to move unobstructed in its proper orbit.”
—Andrew Jackson (1767–1845)