exempt

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exempt

(ĕg-zĕmpt′, ĭg-) [L. eximere, to take out, release, free]
Free from oversight or supervision by any regulation or authority.
References in periodicals archive ?
2612).The Eighth Circuit concluded that the transfer to the grandchildren was exempt from GSTT under TRA '86 Section 1433(b)(2)(A), because the transfer was "under a trust" irrevocable on Sept.
businesses now pay $564 billion per year to comply with federal mandates and regulations from which Congress is largely exempt. Some of the more notable examples: the Civil Rights Act of 1964, the Age Discrimination in Employment Act, the Americans with Disabilities Act, the National Labor Relations Act, the Occupational Safety and Health Act, the Equal Pay Act, the Family and Medical Leave Act.
The IRS Commissioner should be delegated regulatory authority to exempt corporations and classes of corporations from information reporting and/or matching of information reports with corporate tax returns if the IRS finds it unnecessary.
New Rochelle has become the first Westchester community to exempt vacant sponsor-owned co-ops and condominiums from the Emergency Tenant Protection Act, effectively opening hundreds of apartments for rent.
The provision of new releases does not affect the exempt nature of the original software transaction if electronically delivered.
200465 provides new guidance on transactions that are exempt from reporting under this category.
274(e)(4) exempts expenses for recreational, social or similar activities for nonhighly compensated employees.
Foreign government officials (Type A visa holders) are exempt from FICA under Sec.
Investors should lack influence over the exempt organization.
For example, a church-run college or hospital may fit within this definition, if supported by facts, and thus may be exempt from the reporting and fiduciary requirements of Title I.
1.163(j)-1(a)(2), the "amount of exempt related person interest expense disallowed as a deduction in any taxable year shall not exceed the payor corporation's excess interest expense." Prop.
Tax-exempts are now required to disclose information on their Forms 990, Return of Organization Exempt from Income Tax, about disqualified persons, details of excess benefit transactions and penalty taxes paid under sections 4911, 4912 and 4955.