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.

TC upholds GSTT Regs

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.

Double standards

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.

Corporate information reporting proposals and other initiatives to improve the administration and enforcement of employment taxes

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.

New Rochelle eases on EPTA

The provision of new releases does not affect the exempt nature of the original software transaction if electronically delivered.

Virginia sales tax treatment of electronically provided software

200465 provides new guidance on transactions that are exempt from reporting under this category.

New reportable transaction guidance

274(e)(4) exempts expenses for recreational, social or similar activities for nonhighly compensated employees.

Food and beverage deduction

Foreign government officials (Type A visa holders) are exempt from FICA under Sec.

Employers' FICA obligations for foreign nationals who work in the U.S

Investors should lack influence over the exempt organization.

Use of SMLLC to hold real estate of a public charity

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.

Distinguishing church plans under ERISA and the Code

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.

Proposed earnings stripping regulations

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.