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What does tax-exempt mean?

Looking for the meaning or definition of the word tax-exempt? Here's what it means.

Adjective
  1. Exempt from paying tax; not subject to taxation.
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Examples
They included an identifier in an employer survey that determined if an organization was a tax-exempt non-profit.
Any amount of inurement, no matter how small, can jeopardize an organization's tax-exempt status.
Scottish institutions are failing savers again, this time when it comes to tax-exempt Tessas.
But as a matter of law, these tax-exempt organizations do maintain a pro-forma nonpartisan posture.
However, tax-exempt status does not give you the authority to issue official donation receipts to donors for income tax purposes.
For the interim dividend of Euro 0.36 per share, the entire amount was distributed from tax-exempt income.

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