A school tax exemption is an exemption from the portion of property tax that is used to support schools. An example is the New York school tax relief exemption, or STAR exemption, which is described on the New York State Department of Taxation and Finance’s website.
Tax exempt refers to a person or company that is not required to pay taxes, such as income taxes, property taxes or sales tax on specific items. Eligible individuals and organizations have a tax exempt ID number to prove that they are not required to pay certain taxes.
A tax exemption is a certain amount of money that can be subtracted from a taxpayer's total adjusted gross income for the entire year. The two types of exemptions allowed are personal exemptions and exemptions for dependents. These exemptions reduce the amount of income...
A personal exemption acts like a tax deduction on a tax form and individuals can claim one for themselves and any dependents they support in order to reduce taxable income and lower taxes according to About.com. For 2015, the personal exemption amount is $4,000, an incr...
An estate tax exemption, according to the Internal Revenue Service, is allowed when estate tax is not due on an estate after its owner's death. As of 2014, exemptions are offered on estates worth less than $5.34 million, estates left to charity and estates left to survi...
Someone who wants to calculate tax exemptions can use the IRS withholding calculator. When using the calculator, it is a good idea to have pay stubs, income tax returns and accurate estimates on hand.
Sales tax varies from state to state, but the most common sales tax exemptions are for resellers, the federal government and the state's own government institutions, according to SalesTaxSupport.com. Many states offer exemptions for manufacturers. Check specific state l...