Wholesale telecommunications and Internet backbone services purchased by Internet service providers would be exempt from tax.
They can even fight over whether some households should be exempt from tax increases.
Gross income includes all the income received that is not exempt from tax, but does include Social Security benefits.
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Note that for an owner-occupied home, the "income" earned from the building--the net rent you don't have to pay--is exempt from tax.
For example, until a new tax law was put into place last December, the loss on a foreclosed home wasn't exempt from tax liability.
And if you are sitting on a few million dollars of otherwise unusable capital losses from your stock portfolio, the capital gain is effectively exempt from tax.
High-income people will jump at the chance to pay a 15% rate rather than 35% and have all of their interest, dividends, capital gains, rents, royalties, etc. exempt from tax.
Lately, the trend is towards eliminating state estate taxes, or at least lessening the tax bite by increasing the amount exempt from the tax.
Moreover, the vast majority of business-to-consumer sales involve services, such as travel, that are exempt from sales tax or involve products that are exempt, such as prescription drugs.
They believe that the fees paid should be exempt from sales tax and appealed.
They will shift their investments to municipal bonds, which are exempt from federal tax.
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Under Code Section 107, the housing allowance would have been exempt from income tax.
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The expert also noted that domestic studios are exempt from the tax unless they are working with foreign partners.
From October, VAT will be charged at 20% on alterations to listed buildings - work currently exempt from the tax.
Most wealthy married taxpayers set aside the amount exempt from estate tax into a trust when the first spouse dies.
The executors argued the painting was merely a "plant" used to boost visitors and should be exempt from a tax levy.
Each patch boosted the amount of income exempt from the tax, saving millions of households from having to pay the levy.
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Internet retailers claim that their transactions are exempt from sales tax in locations where they do not have a physical presence.
As in the U.S., REITs over there are exempt from corporate tax.
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Since employer-paid health insurance is exempt from income tax, there's an incentive for these plans to cover things like sunglasses and marital counseling.
The parsonage exclusion allows ministers to receive some of their compensation in the form of a housing allowance that is exempt from income tax.
For this post the annual remuneration is exempt from income tax.
Companies that cross a certain threshold will be forced to register for VAT in the EU, while smaller firms are expected to continue to be exempt from the tax.
Interest earned on state and local bonds that is exempt from income tax under Section 103 is excluded from the definition of net investment income for purposes of Section 1411.
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The interest on municipal bonds is exempt from income tax on the federal and sometimes state levels, giving them a higher after-tax yield than a corporate or Treasury with the same coupon and maturity.
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The Northern Ireland quarry industry had been eligible to be exempt from UK tax on quarried material, due to the disproportionate effect the tax would have because of the land border with the Republic of Ireland.
Unlike corporate bonds or U.S. Treasuries, muni bond interest is often federal tax-free and exempt from state income tax of the state they are issued.
Hold them in your tax-exempt accounts (like IRAs) and the state tax problem--the fact that only Treasury interest is exempt from state income tax--ceases to be a problem.
It is possible, then, that you might have to file a state (or local) income tax return even if you are exempt from federal income tax.
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Here's why: Many states tied their death taxes to the federal tax, so that in 2001, when Congress raised the amount exempt from federal estate tax, it lowered state levies, too.
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