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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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Scottish institutions are failing savers again, this time when it comes to tax-exempt Tessas.
For the interim dividend of Euro 0.36 per share, the entire amount was distributed from tax-exempt income.
This will allow for tax-exempt voluntary contribution from donors in the United States.
The Medical Aid Committee has lodged an application to be recognized in the United States as a tax-exempt public charity.
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.

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